Etsy (NASDAQ:ETSY) Trading 3.9% Higher

Etsy, Inc. (NASDAQ:ETSY) shares traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $69.62 and last traded at $69.31. 1,687,575 shares were traded during mid-day trading, a decline of 55% from the average session volume of 3,762,767 shares. The stock had previously closed at $66.73.

Analyst Ratings Changes

ETSY has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Evercore ISI lowered their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Piper Sandler boosted their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group downgraded Etsy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Finally, Barclays boosted their price objective on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $87.84.

Etsy Price Performance

The stock has a market capitalization of $8.10 billion, a PE ratio of 30.65, a PEG ratio of 4.68 and a beta of 2.01. The business has a 50 day moving average price of $70.29 and a 200 day moving average price of $71.36.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. On average, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Bares Capital Management Inc. boosted its position in Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after purchasing an additional 1,480,655 shares during the last quarter. Norges Bank bought a new position in shares of Etsy in the fourth quarter worth about $86,494,000. Van ECK Associates Corp raised its stake in shares of Etsy by 40.3% in the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after buying an additional 1,047,811 shares during the period. TD Asset Management Inc raised its stake in shares of Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Etsy by 69.7% in the first quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after buying an additional 950,415 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.