Etsy (NASDAQ:ETSY) Shares Up 5% – Should You Buy?

Shares of Etsy, Inc. (NASDAQ:ETSY) shot up 5% during mid-day trading on Monday . The stock traded as high as $49.57 and last traded at $49.14. 740,210 shares traded hands during trading, a decline of 79% from the average session volume of 3,534,570 shares. The stock had previously closed at $46.80.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ETSY. Citigroup decreased their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Truist Financial cut their target price on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Stifel Nicolaus cut their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Thursday, February 20th. Finally, Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and increased their target price for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Down 3.7 %

The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 2.57 and a beta of 2.23. The stock has a 50 day moving average of $52.95 and a 200 day moving average of $53.43.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC grew its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC grew its holdings in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after buying an additional 292 shares in the last quarter. Hurley Capital LLC bought a new position in Etsy in the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the fourth quarter worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in Etsy in the fourth quarter worth approximately $37,000. 99.53% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.