Etsy (ETSY) Cut to “Sell” at Zacks Investment Research
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
Other analysts also recently issued research reports about the company. BidaskClub upgraded Etsy from a hold rating to a buy rating in a research report on Thursday, January 17th. Goldman Sachs Group upgraded Etsy from a neutral rating to a buy rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Friday, January 4th. Deutsche Bank started coverage on Etsy in a research report on Tuesday, January 29th. They issued a buy rating and a $64.00 target price for the company. Roth Capital boosted their target price on Etsy from $64.00 to $72.00 and gave the stock a buy rating in a research report on Tuesday, February 26th. Finally, DA Davidson boosted their target price on Etsy to $71.00 and gave the stock a buy rating in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Etsy presently has a consensus rating of Buy and a consensus price target of $67.53.
Etsy (NASDAQ:ETSY) last released its earnings results on Monday, February 25th. The specialty retailer reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $194.77 million. Etsy had a return on equity of 20.00% and a net margin of 12.84%. Etsy’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities analysts forecast that Etsy will post 0.71 EPS for the current fiscal year.
In other Etsy news, CTO Michael T. Fisher sold 2,604 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $69.37, for a total value of $180,639.48. Following the completion of the sale, the chief technology officer now owns 30,968 shares in the company, valued at $2,148,250.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jill Simeone sold 1,158 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $69.34, for a total value of $80,295.72. Following the completion of the sale, the general counsel now owns 4,734 shares of the company’s stock, valued at approximately $328,255.56. The disclosure for this sale can be found here. Insiders sold 126,993 shares of company stock valued at $8,705,705 in the last quarter. Corporate insiders own 2.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ETSY. Dimensional Fund Advisors LP lifted its position in Etsy by 277.9% in the third quarter. Dimensional Fund Advisors LP now owns 153,037 shares of the specialty retailer’s stock valued at $7,864,000 after purchasing an additional 112,545 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Etsy by 190.6% during the third quarter. JPMorgan Chase & Co. now owns 389,253 shares of the specialty retailer’s stock valued at $20,000,000 after acquiring an additional 255,312 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Etsy by 410.8% during the third quarter. Macquarie Group Ltd. now owns 33,715 shares of the specialty retailer’s stock valued at $1,732,000 after acquiring an additional 27,115 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Etsy by 11.5% during the third quarter. Legal & General Group Plc now owns 49,972 shares of the specialty retailer’s stock valued at $2,568,000 after acquiring an additional 5,160 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Etsy by 12.6% during the third quarter. Clearbridge Investments LLC now owns 644,530 shares of the specialty retailer’s stock valued at $33,116,000 after acquiring an additional 72,370 shares in the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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