Brokerages Set Etsy Inc (NYSE:ETSY) PT at $70.09

Shares of Etsy Inc (NYSE:ETSY) have been given an average rating of “Hold” by the twenty-nine research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $70.0870.

A number of research firms have issued reports on ETSY. Raymond James Financial restated an “outperform” rating and set a $75.00 target price on shares of Etsy in a research report on Thursday, April 23rd. Wells Fargo & Company upped their price target on Etsy from $47.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Guggenheim upped their price target on Etsy from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Needham & Company LLC upped their price target on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 30th.

Insider Buying and Selling

In other news, insider Richard Edward Colburn III sold 4,776 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at $423,280.27. This represents a 42.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,993 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $52.92, for a total value of $105,469.56. Following the completion of the sale, the chief accounting officer directly owned 809 shares of the company’s stock, valued at approximately $42,812.28. This trade represents a 71.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 278,569 shares of company stock valued at $17,724,416. Insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

A number of large investors have recently bought and sold shares of ETSY. Integrated Wealth Concepts LLC increased its stake in Etsy by 19.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after purchasing an additional 961 shares in the last quarter. Empowered Funds LLC increased its stake in Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after purchasing an additional 3,451 shares in the last quarter. Woodline Partners LP bought a new stake in Etsy during the 1st quarter worth approximately $2,181,000. Northwestern Mutual Wealth Management Co. increased its stake in Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after purchasing an additional 906 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in Etsy during the 2nd quarter worth approximately $232,000. 99.53% of the stock is owned by institutional investors.

Etsy Trading Down 0.1%

Etsy stock opened at $57.44 on Friday. Etsy has a 1 year low of $44.00 and a 1 year high of $76.51. The firm has a market cap of $5.45 billion, a P/E ratio of 23.93, a PEG ratio of 5.13 and a beta of 1.89. The company’s 50-day simple moving average is $56.57.

Etsy (NYSE:ETSY) last released its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. The company had revenue of $881.64 million for the quarter. On average, research analysts expect that Etsy will post 3.74 earnings per share for the current fiscal year.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.