Etsy Inc. (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
Several other analysts have also recently commented on ETSY. Citigroup Inc. started coverage on Etsy in a report on Monday, August 1st. They issued a “buy” rating and a $14.00 price target for the company. Vetr cut Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 target price for the company. in a report on Monday, August 1st. Wedbush reiterated a “neutral” rating and set a $13.00 target price (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. boosted their target price on Etsy from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Morgan Stanley decreased their target price on Etsy from $11.50 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.73.
Shares of Etsy (NASDAQ:ETSY) traded down 0.76% during trading on Monday, reaching $14.37. 897,563 shares of the company’s stock traded hands. The stock’s market capitalization is $1.60 billion. Etsy has a 1-year low of $6.04 and a 1-year high of $16.05. The company has a 50 day moving average price of $14.35 and a 200 day moving average price of $11.06.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.05. The business earned $85.35 million during the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities analysts forecast that Etsy will post ($0.06) EPS for the current fiscal year.
In other Etsy news, insider John Allspaw sold 63,468 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the transaction, the insider now directly owns 66,864 shares of the company’s stock, valued at approximately $835,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kristina Salen sold 156,839 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $15.00, for a total value of $2,352,585.00. Following the completion of the transaction, the chief financial officer now directly owns 158,581 shares in the company, valued at $2,378,715. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in shares of Etsy during the first quarter worth about $131,000. JPMorgan Chase & Co. increased its stake in shares of Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock worth $4,726,000 after buying an additional 162,213 shares during the period. Geode Capital Management LLC increased its stake in shares of Etsy by 3.9% in the first quarter. Geode Capital Management LLC now owns 169,884 shares of the company’s stock worth $1,477,000 after buying an additional 6,370 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Etsy during the first quarter worth $177,000. Finally, Hamilton Lane Advisors LLC increased its stake in shares of Etsy by 6.6% in the second quarter. Hamilton Lane Advisors LLC now owns 352,959 shares of the company’s stock worth $3,265,000 after buying an additional 21,884 shares during the period. 58.14% of the stock is currently owned by institutional investors.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.