Etsy Inc (NASDAQ:ETSY) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.55.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up from $16.00) on shares of Etsy in a report on Thursday, November 2nd. BidaskClub upgraded Etsy from a “hold” rating to a “buy” rating in a report on Saturday. Ifs Securities reiterated an “outperform” rating and issued a $18.00 price objective on shares of Etsy in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $14.50 price objective on shares of Etsy in a report on Wednesday, October 4th.

In related 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 completion of the sale, the director now directly owns 822,062 shares in the company, valued at approximately $13,350,286.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its holdings in 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 acquiring an additional 1,092 shares during the period. Principal Financial Group Inc. lifted its holdings in Etsy by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock worth $241,000 after buying an additional 1,330 shares during the period. Amalgamated Bank lifted its holdings in Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after buying an additional 1,920 shares during the period. Royal Bank of Canada lifted its holdings in Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after buying an additional 2,049 shares during the period. Finally, UBS Group AG lifted its holdings in Etsy by 30.7% in the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares during the period. Institutional investors own 74.42% of the company’s stock.

Etsy (NASDAQ:ETSY) traded up $0.28 on Thursday, hitting $20.21. The stock had a trading volume of 2,436,976 shares, compared to its average volume of 1,984,872. Etsy has a 1 year low of $9.41 and a 1 year high of $20.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The stock has a market cap of $2,460.00 and a PE ratio of 77.28.

Etsy announced that its Board of Directors has authorized a stock repurchase plan on Friday, November 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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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.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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