Brokerages Set Etsy Inc (NYSE:ETSY) PT at $81.50

Etsy Inc (NYSE:ETSY) has earned an average recommendation of “Hold” from the thirty-two ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $82.7308.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Etsy from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 7th. Barclays lifted their price target on Etsy from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Canaccord Genuity Group set a $92.00 target price on shares of Etsy in a report on Thursday, August 6th. Guggenheim increased their price target on Etsy from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Morgan Stanley set a $73.00 price objective on shares of Etsy in a research report on Friday, August 7th.

Etsy Stock Performance

Etsy stock opened at $80.70 on Monday. The firm’s 50-day moving average is $79.30 and its 200-day moving average is $64.88. Etsy has a 1 year low of $44.00 and a 1 year high of $87.97. The company has a market cap of $7.66 billion, a P/E ratio of 45.08, a PEG ratio of 5.48 and a beta of 1.84.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The business had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, sell-side analysts predict that Etsy will post 3.94 earnings per share for the current year.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the sale, the director directly owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 604,967 shares of company stock worth $45,141,231. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in Etsy by 49.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,159 shares of the company’s stock worth $690,000 after acquiring an additional 3,048 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Etsy in the 2nd quarter valued at $3,548,000. United Capital Financial Advisors LLC acquired a new stake in shares of Etsy in the 2nd quarter valued at $202,000. Public Employees Retirement System of Ohio bought a new stake in shares of Etsy in the 2nd quarter worth about $2,144,000. Finally, Redwood Investment Management LLC bought a new stake in shares of Etsy in the 2nd quarter worth about $1,147,000. Institutional investors and hedge funds 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.