Analysts Set Etsy, Inc. (NASDAQ:ETSY) PT at $63.72

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus rating of “Hold” from the thirty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $63.72.

A number of equities research analysts recently issued reports on the company. BNP Paribas Exane assumed coverage on Etsy in a research note on Monday, November 24th. They issued a “neutral” rating on the stock. Weiss Ratings upgraded Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Moffett Nathanson reiterated a “neutral” rating on shares of Etsy in a research report on Wednesday, October 29th. Barclays boosted their target price on shares of Etsy from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group raised their price target on shares of Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th.

Insider Activity

In other news, insider Josh Silverman sold 86,666 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $57.46, for a total transaction of $4,979,828.36. Following the sale, the insider owned 90,661 shares in the company, valued at $5,209,381.06. This trade represents a 48.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Edward Colburn III sold 3,200 shares of Etsy stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the sale, the insider directly owned 4,387 shares of the company’s stock, valued at approximately $253,568.60. This represents a 42.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 154,056 shares of company stock valued at $8,931,918 over the last quarter. Insiders own 2.80% of the company’s stock.

Institutional Trading of Etsy

Institutional investors have recently made changes to their positions in the stock. Heritage Wealth Advisors boosted its holdings in Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 405 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Etsy in the 2nd quarter worth about $35,000. Salomon & Ludwin LLC acquired a new position in shares of Etsy in the 3rd quarter valued at about $55,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 756 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Down 3.9%

Etsy stock opened at $52.81 on Thursday. The firm has a market capitalization of $5.21 billion, a PE ratio of 42.59, a P/E/G ratio of 10.65 and a beta of 1.74. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51. The firm’s 50-day simple moving average is $56.70 and its 200 day simple moving average is $60.51.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same period last year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

Etsy declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 18th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 14.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.