Etsy Inc. (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “

A number of other equities research analysts have also issued reports on ETSY. Maxim Group upped their target price on shares of Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Wedbush reaffirmed a “neutral” rating and set a $13.00 target price (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Vetr lowered shares of Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 target price for the company. in a report on Monday, August 1st. Loop Capital began coverage on shares of Etsy in a report on Tuesday, September 13th. They set a “hold” rating and a $14.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of Etsy from $11.50 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $14.73.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

Shares of Etsy (NASDAQ:ETSY) traded down 0.76% during midday trading on Monday, reaching $14.37. 897,563 shares of the company were exchanged. The firm’s market capitalization is $1.60 billion. The firm has a 50-day moving average of $14.35 and a 200 day moving average of $11.06. Etsy has a 52 week low of $6.04 and a 52 week high of $16.05.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.05. The company earned $85.35 million during the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. Etsy’s revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts expect that Etsy will post ($0.06) EPS for the current year.

In other news, CEO Chad Dickerson sold 105,289 shares of the stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the sale, the chief executive officer now owns 857,645 shares of the company’s stock, valued at $13,722,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kristina Salen sold 156,839 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the sale, the chief financial officer now directly owns 158,581 shares in the company, valued at approximately $2,378,715. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Etsy during the second quarter valued at about $102,000. Legal & General Group Plc boosted its stake in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Etsy during the second quarter valued at about $123,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares in the last quarter. 58.14% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.

5 Day Chart for NASDAQ:ETSY

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