Etsy (NYSE:ETSY) Upgraded by Argus to “Buy” Rating

Etsy (NYSE:ETSY) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $67.00 target price on the stock. Argus’ target price would suggest a potential upside of 10.16% from the company’s current price.

A number of other research analysts also recently commented on the company. BTIG Research boosted their price target on Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC upped their target price on Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Arete Research set a $76.00 price objective on Etsy and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.75.

Etsy Stock Up 5.6%

Shares of ETSY stock opened at $60.82 on Thursday. The company has a market cap of $5.77 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 5.13 and a beta of 1.89. The business’s 50-day moving average is $56.86. Etsy has a 52 week low of $44.00 and a 52 week high of $76.51.

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

Insider Activity at Etsy

In other news, insider Richard Edward Colburn III sold 4,776 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $65.09, for a total transaction of $310,869.84. Following the transaction, the insider owned 6,503 shares of the company’s stock, valued at $423,280.27. This represents a 42.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Merilee Buckley sold 1,993 shares of the firm’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 owned 809 shares of the company’s stock, valued at approximately $42,812.28. This represents a 71.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 278,569 shares of company stock valued at $17,728,487. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH raised its holdings in Etsy by 2.3% during the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after buying an additional 169 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after buying an additional 180 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Etsy by 6.6% during the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock valued at $185,000 after buying an additional 205 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.