Etsy Inc. (NASDAQ:ETSY)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup Inc. in a research note issued to investors on Tuesday.
Other analysts also recently issued reports about the stock. Goldman Sachs Group Inc. lifted their price objective on shares of Etsy from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Monness Crespi & Hardt raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, September 21st. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective (up from $13.00) on shares of Etsy in a report on Thursday, October 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $13.50 price objective (up from $11.50) on shares of Etsy in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Etsy presently has a consensus rating of “Hold” and an average price target of $15.46.
Shares of Etsy (NASDAQ:ETSY) opened at 12.84 on Tuesday. The firm’s 50-day moving average price is $13.05 and its 200 day moving average price is $12.00. Etsy has a 1-year low of $6.04 and a 1-year high of $16.05. The company’s market capitalization is $1.43 billion.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Etsy had a negative net margin of 3.72% and a negative return on equity of 1.69%. The business earned $87.56 million during the quarter, compared to analyst estimates of $86.79 million. During the same period in the previous year, the business earned ($0.06) EPS. Etsy’s revenue was up 33.3% compared to the same quarter last year. Equities analysts predict that Etsy will post ($0.05) EPS for the current fiscal year.
In related news, CFO Kristina Salen sold 63,161 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $15.00, for a total transaction of $947,415.00. Following the transaction, the chief financial officer now owns 64,903 shares in the company, valued at $973,545. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Allspaw sold 36,532 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $15.00, for a total transaction of $547,980.00. Following the transaction, the insider now owns 39,928 shares in the company, valued at approximately $598,920. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares in the last quarter. TFS Capital LLC acquired a new stake in Etsy during the second quarter valued at approximately $102,000. Legal & General Group Plc raised its stake in Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Etsy during the second quarter valued at approximately $123,000. Finally, BNP Paribas Arbitrage SA raised its stake in Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.
Etsy Company Profile