Zacks Investment Research cut shares of Etsy, Inc. (NASDAQ:ETSY) from a buy rating to a hold rating in a research report released 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. “

ETSY has been the topic of a number of other research reports. DA Davidson started coverage on Etsy in a report on Wednesday, September 6th. They set a buy rating and a $18.00 price objective on the stock. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $18.00 price target (up previously from $16.00) on shares of Etsy in a report on Thursday, November 2nd. BidaskClub raised Etsy from a hold rating to a buy rating in a report on Saturday, August 26th. Piper Jaffray Companies reaffirmed a neutral rating and issued a $14.50 price target on shares of Etsy in a report on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $18.00 price target (up previously from $15.00) on shares of Etsy in a report on Tuesday, November 7th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $15.69.

Shares of Etsy (ETSY) opened at $16.42 on Monday. The stock has a market capitalization of $2,004.64, a PE ratio of 65.88, a P/E/G ratio of 2.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.26 and a current ratio of 4.26. Etsy has a 1-year low of $9.41 and a 1-year high of $17.90.

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In other news, Director Frederick R. Wilson sold 87,938 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the transaction, the director now directly owns 822,062 shares in the company, valued at approximately $13,350,286.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. UBS Group AG increased its position in shares of Etsy by 30.7% during the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 2,373 shares during the last quarter. Royal Bank of Canada increased its position in shares of Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,049 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 1,092 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Etsy during the 3rd quarter valued at about $192,000. Finally, Rehmann Capital Advisory Group bought a new position in Etsy during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About Etsy

Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.

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