Etsy (NASDAQ:ETSY) Rating Lowered to Market Perform at JMP Securities

JMP Securities downgraded shares of Etsy (NASDAQ:ETSY) from an outperform rating to a market perform rating in a report published on Thursday morning, Marketbeat Ratings reports.

ETSY has been the subject of several other research reports. Barclays dropped their target price on shares of Etsy from $67.00 to $60.00 and set an equal weight rating for the company in a report on Thursday. Needham & Company LLC cut their target price on Etsy from $95.00 to $75.00 and set a buy rating for the company in a research report on Thursday. B. Riley dropped their price target on Etsy from $91.00 to $83.00 and set a buy rating for the company in a research note on Thursday. BTIG Research lowered their target price on shares of Etsy from $87.00 to $78.00 and set a buy rating on the stock in a report on Thursday. Finally, UBS Group cut their target price on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Etsy presently has an average rating of Hold and a consensus target price of $79.96.

Etsy Price Performance

Etsy stock traded up $0.73 during mid-day trading on Thursday, reaching $59.97. 5,617,654 shares of the stock traded hands, compared to its average volume of 3,661,918. The stock has a market capitalization of $7.02 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 4.22 and a beta of 2.00. The business’s 50-day moving average is $67.77 and its 200-day moving average is $71.53. Etsy has a 12-month low of $56.60 and a 12-month high of $102.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Equities analysts anticipate that Etsy will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock worth $4,836,827 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors have recently made changes to their positions in the business. CVA Family Office LLC purchased a new stake in Etsy in the fourth quarter valued at about $27,000. Operose Advisors LLC purchased a new stake in Etsy during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.