Etsy Inc (NYSE:ETSY – Get Free Report) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $60.12 and last traded at $60.3370. 363,777 shares changed hands during trading, a decline of 89% from the average session volume of 3,459,543 shares. The stock had previously closed at $64.38.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Morgan Stanley set a $64.00 price target on Etsy in a research report on Wednesday, April 29th. BTIG Research increased their price target on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein increased their price target on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Etsy in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $70.09.
View Our Latest Stock Report on Etsy
Etsy Trading Down 7.2%
Etsy (NYSE:ETSY – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The company had revenue of $881.64 million for the quarter. As a group, equities analysts anticipate that Etsy Inc will post 3.74 EPS for the current fiscal year.
Insiders Place Their Bets
In other Etsy news, insider Josh Silverman sold 88,350 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $64.18, for a total value of $5,670,303.00. Following the completion of the sale, the insider owned 130,694 shares of the company’s stock, valued at approximately $8,387,940.92. This trade represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $423,280.27. This represents a 42.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 278,569 shares of company stock valued at $17,724,416. 2.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Etsy
Institutional investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its holdings in Etsy by 21.2% in the third quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock worth $28,602,000 after acquiring an additional 75,295 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after purchasing an additional 666,253 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Etsy by 33.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after purchasing an additional 47,105 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Etsy in the third quarter worth about $257,614,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Etsy in the third quarter worth about $1,889,000. Institutional investors and hedge funds own 99.53% of the company’s stock.
Etsy Company Profile
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.
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