Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $58.38

Etsy, Inc. (NASDAQ:ETSY) has received an average rating of “Hold” from the twenty-seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $57.71.

A number of analysts have recently weighed in on ETSY shares. UBS Group cut their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Wells Fargo & Company reduced their price target on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 2nd. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Finally, Cantor Fitzgerald reduced their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th.

Etsy Stock Down 6.5 %

Shares of Etsy stock opened at $40.80 on Friday. The firm has a market cap of $4.37 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy has a 52 week low of $40.60 and a 52 week high of $71.72. The business’s fifty day simple moving average is $49.67 and its 200-day simple moving average is $52.18.

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

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the transaction, the chief executive officer now directly owns 31,818 shares of the company’s stock, valued at approximately $1,534,582.14. This trade represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,952 shares of company stock worth $2,554,620. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC raised its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. True Wealth Design LLC grew its position in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC acquired a new position in Etsy in the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Etsy during the fourth quarter worth about $34,000. Finally, Summit Securities Group LLC acquired a new stake in Etsy in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.