Etsy Inc (NYSE:ETSY – Get Free Report)’s stock price was up 5.4% during trading on Monday . The company traded as high as $85.37 and last traded at $85.37. 1,281,420 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,243,100 shares. The stock had previously closed at $81.03.
Wall Street Analysts Forecast Growth
ETSY has been the subject of a number of recent research reports. Argus raised Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, May 21st. Bank of America raised Etsy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $88.00 to $95.00 in a report on Thursday. Morgan Stanley upgraded Etsy from an “underweight” rating to an “outperform” rating in a research note on Thursday. Rosenblatt Securities initiated coverage on shares of Etsy in a report on Thursday. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Cantor Fitzgerald increased their target price on shares of Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.68.
Check Out Our Latest Analysis on ETSY
Etsy Price Performance
Etsy (NYSE:ETSY – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Research analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.
Insider Transactions at Etsy
In other news, insider Josh Silverman sold 134,730 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $9,003,509.66. This trade represents a 50.76% decrease in their ownership of the stock. The transaction 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, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the transaction, the director directly owned 421,329 shares of the company’s stock, valued at approximately $35,062,999.38. This represents a 4.53% 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. Insiders have sold a total of 584,967 shares of company stock valued at $43,908,631 in the last ninety days. Insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ETSY. Landscape Capital Management L.L.C. bought a new position in shares of Etsy during the second quarter valued at about $6,466,000. Janus Henderson Group PLC lifted its stake in shares of Etsy by 627.2% in the 1st quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock valued at $13,962,000 after acquiring an additional 240,986 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Etsy during the 2nd quarter valued at about $18,602,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Etsy by 338.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 103,497 shares of the company’s stock valued at $5,738,000 after acquiring an additional 79,888 shares during the period. 99.53% of the stock is owned by institutional investors.
About Etsy
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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