Shares of Etsy Inc (NYSE:ETSY – Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $90.53 and last traded at $90.7050, with a volume of 2,042,136 shares changing hands. The stock had previously closed at $87.23.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Zacks Research lowered Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Oppenheimer upgraded shares of Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Tuesday, September 15th. Argus raised their price target on shares of Etsy from $67.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. B. Riley Financial lifted their price objective on shares of Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Loop Capital set a $105.00 price objective on shares of Etsy in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.21.
Read Our Latest Stock Report on Etsy
Etsy Price Performance
The firm has a fifty day simple moving average of $77.61 and a 200 day simple moving average of $73.16. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.86.
Etsy (NYSE:ETSY – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. Research analysts predict that Etsy Inc will post 3.94 EPS for the current year.
Insider Activity at Etsy
In other Etsy news, insider Josh Silverman sold 417 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $84.47, for a total transaction of $35,223.99. Following the transaction, the insider directly owned 262,617 shares of the company’s stock, valued at $22,183,257.99. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Colburn, III sold 4,472 shares of Etsy stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $71.31, for a total transaction of $318,898.32. Following the completion of the sale, the insider owned 6,503 shares in the company, valued at approximately $463,728.93. This trade represents a 40.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 133,251 shares of company stock valued at $10,966,499. 2.50% of the stock is owned by company insiders.
Institutional Trading of Etsy
A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Renaissance Technologies LLC raised its position in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after purchasing an additional 594,768 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after buying an additional 1,112,520 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after buying an additional 523,092 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Etsy during the 2nd quarter worth approximately $120,417,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Etsy by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,573,696 shares of the company’s stock valued at $78,642,000 after acquiring an additional 100,542 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.
About Etsy
Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.
The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.
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