Trade Report: The Wedbush Comments on Etsy Inc.’s Q3 2016 Earnings (ETSY)

The Wedbush Comments on Etsy Inc.’s Q3 2016 Earnings (ETSY)

Etsy Inc. (NASDAQ:ETSY) – Equities researchers at Wedbush issued their Q3 2016 earnings per share estimates for Etsy in a research report issued on Thursday. Wedbush analyst A. Turner anticipates that the brokerage will post earnings of ($0.02) per share for the quarter. Wedbush has a “Neutral” rating and a $15.00 price objective on the stock. Wedbush also issued estimates for Etsy’s Q4 2016 earnings at $0.00 EPS, FY2016 earnings at ($0.07) EPS, Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.00 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.06 EPS and FY2017 earnings at $0.07 EPS.

ETSY has been the topic of several other research reports. Loop Capital initiated coverage on shares of Etsy in a report on Tuesday, September 13th. They issued a “hold” rating and a $14.00 price target on the stock. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. upped their price target on shares of Etsy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $13.50 price target (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Finally, Monness Crespi & Hardt raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Etsy presently has an average rating of “Hold” and a consensus price target of $14.73.

Shares of Etsy (NASDAQ:ETSY) opened at 14.37 on Monday. The firm’s market cap is $1.60 billion. Etsy has a 12-month low of $6.04 and a 12-month high of $16.05. The company has a 50-day moving average of $14.38 and a 200 day moving average of $11.13.

Etsy (NASDAQ:ETSY) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company earned $85.35 million during the quarter, compared to analyst estimates of $80.55 million. During the same quarter last year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of ETSY. Boston Private Wealth LLC increased its position in Etsy by 0.3% in the second quarter. Boston Private Wealth LLC now owns 24,544 shares of the company’s stock worth $235,000 after buying an additional 75 shares in the last quarter. Cipher Capital LP increased its position in Etsy by 8.0% in the second quarter. Cipher Capital LP now owns 18,056 shares of the company’s stock worth $173,000 after buying an additional 1,333 shares in the last quarter. TD Asset Management Inc. increased its position in Etsy by 9.9% in the second quarter. TD Asset Management Inc. now owns 18,800 shares of the company’s stock worth $180,000 after buying an additional 1,700 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Etsy by 25.0% in the second quarter. Cubist Systematic Strategies LLC now owns 15,467 shares of the company’s stock worth $148,000 after buying an additional 3,092 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock worth $123,000 after buying an additional 4,456 shares in the last quarter. 58.14% of the stock is currently owned by institutional investors.

In other Etsy news, insider John Allspaw sold 63,468 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the transaction, the insider now owns 66,864 shares of the company’s stock, valued at $835,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Chad Dickerson sold 105,289 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the transaction, the chief executive officer now directly owns 857,645 shares in the company, valued at approximately $13,722,320. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Etsy Company Profile

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