Etsy, Inc. (ETSY) Shares Gap Up to $17.00
Etsy, Inc. (NASDAQ:ETSY) gapped up prior to trading on Friday . The stock had previously closed at $17.04, but opened at $17.00. Etsy shares last traded at $17.04, with a volume of 624,011 shares changing hands.
ETSY has been the subject of a number of analyst reports. Loop Capital lowered shares of Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Maxim Group reissued a “buy” rating and issued a $17.00 price objective (up previously from $13.00) on shares of Etsy in a report on Wednesday, May 17th. TheStreet raised shares of Etsy from a “d” rating to a “c-” rating in a report on Wednesday, May 24th. Citigroup Inc. reissued a “neutral” rating and issued a $14.00 price objective (up previously from $12.95) on shares of Etsy in a report on Thursday, May 25th. Finally, Roth Capital set a $14.00 price objective on shares of Etsy and gave the company a “hold” rating in a report on Thursday, June 22nd. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.00.
The firm has a 50-day moving average of $15.44 and a 200 day moving average of $13.02. The company’s market capitalization is $1.87 billion.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The company had revenue of $101.70 million during the quarter, compared to the consensus estimate of $101.14 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts forecast that Etsy, Inc. will post $0.27 EPS for the current year.
In other news, CEO Josh Silverman bought 64,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $15.67 per share, for a total transaction of $1,002,880.00. Following the acquisition, the chief executive officer now owns 64,000 shares of the company’s stock, valued at $1,002,880. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of ETSY. Janus Henderson Group PLC purchased a new stake in shares of Etsy during the 2nd quarter worth about $95,291,000. TPG Group Holdings SBS Advisors Inc. grew its holdings in shares of Etsy by 2,287.5% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock worth $75,058,000 after purchasing an additional 4,794,297 shares during the period. Dragoneer Investment Group LLC purchased a new stake in shares of Etsy during the 1st quarter worth about $24,331,000. Janus Capital Management LLC grew its holdings in shares of Etsy by 38.4% during the 1st quarter. Janus Capital Management LLC now owns 6,222,005 shares of the specialty retailer’s stock worth $66,140,000 after purchasing an additional 1,726,152 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of Etsy during the 2nd quarter worth about $16,650,000. Institutional investors and hedge funds own 73.04% of the company’s stock.
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Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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