Etsy (NYSE:ETSY) Sets New 1-Year High – What’s Next?

Etsy Inc (NYSE:ETSY) shares reached a new 52-week high on Wednesday. The stock traded as high as $96.45 and last traded at $96.3560, with a volume of 113,824 shares trading hands. The stock had previously closed at $89.86.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETSY. B. Riley Financial upped their target price on shares of Etsy from $82.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. UBS Group raised their price target on shares of Etsy from $86.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of Etsy in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group upped their price objective on Etsy from $90.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus price target of $94.07.

Etsy Stock Performance

The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 2.04 and a beta of 1.76. The business’s 50-day simple moving average is $79.47 and its 200-day simple moving average is $68.82.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, October 28th. The company reported $7.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $6.55. The company had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. Etsy had a net margin of 34.36% and a negative return on equity of 43.65%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. On average, analysts forecast that Etsy Inc will post 4.31 earnings per share for the current year.

Insider Transactions at Etsy

In other Etsy news, Director Marla J. Blow sold 6,000 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $92.67, for a total transaction of $556,020.00. Following the completion of the sale, the director owned 7,024 shares in the company, valued at approximately $650,914.08. The trade was a 46.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Josh Silverman sold 41,500 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $92.13, for a total value of $3,823,395.00. Following the completion of the transaction, the insider directly owned 221,117 shares in the company, valued at approximately $20,371,509.21. This trade represents a 15.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 142,908 shares of company stock valued at $12,443,190. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Headlands Technologies LLC acquired a new stake in Etsy in the 2nd quarter valued at approximately $1,045,000. Ieq Capital LLC acquired a new position in Etsy during the 2nd quarter worth approximately $4,083,000. Landscape Capital Management L.L.C. acquired a new position in Etsy during the 2nd quarter worth approximately $6,466,000. Public Employees Retirement System of Ohio acquired a new position in Etsy during the 2nd quarter worth approximately $2,144,000. Finally, Bank of Nova Scotia bought a new position in shares of Etsy during the 2nd quarter worth approximately $18,602,000. Institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.