Etsy (NASDAQ:ETSY) Stock Price Up 3.9% – Should You Buy?

Shares of Etsy, Inc. (NASDAQ:ETSY) rose 3.9% on Tuesday . The company traded as high as $47.50 and last traded at $47.64. Approximately 631,021 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,589,961 shares. The stock had previously closed at $45.86.

Analyst Upgrades and Downgrades

ETSY has been the topic of several recent analyst reports. Loop Capital reduced their price target on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and lowered their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Citigroup reduced 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. Finally, Canaccord Genuity Group lowered their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $58.42.

Etsy Price Performance

The company’s fifty day moving average price is $51.17 and its 200-day moving average price is $52.71. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (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 analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction 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 approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after purchasing an additional 56,772 shares during the period. Renaissance Technologies LLC grew its holdings in Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock worth $286,751,000 after acquiring an additional 235,550 shares during the period. Van ECK Associates Corp lifted its holdings in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC boosted its position in Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.