Etsy (NASDAQ:ETSY) Shares Up 8.9%

Etsy, Inc. (NASDAQ:ETSYGet Rating)’s share price shot up 8.9% during mid-day trading on Friday . The company traded as high as $80.30 and last traded at $79.74. 43,464 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 4,398,750 shares. The stock had previously closed at $73.21.

A number of research firms have recently issued reports on ETSY. Raymond James began coverage on shares of Etsy in a research report on Wednesday. They issued an “outperform” rating and a $100.00 price target on the stock. Loop Capital reduced their price target on shares of Etsy from $140.00 to $115.00 in a research report on Thursday, April 21st. Guggenheim reduced their price target on shares of Etsy from $175.00 to $101.00 and set a “buy” rating on the stock in a research report on Tuesday. DA Davidson reduced their price target on shares of Etsy from $275.00 to $185.00 in a research report on Thursday, May 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Etsy from $120.00 to $100.00 in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.37.

The company has a market capitalization of $10.07 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.66 and a beta of 1.76. The business’s 50-day simple moving average is $83.20 and its 200 day simple moving average is $129.94. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 3.52.

Etsy (NASDAQ:ETSYGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The company had revenue of $579.30 million for the quarter, compared to the consensus estimate of $574.71 million. During the same period in the previous year, the firm earned $1.00 EPS. Etsy’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Etsy, Inc. will post 2 EPS for the current fiscal year.

In other news, CAO Merilee Buckley sold 655 shares of Etsy stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total value of $86,813.70. Following the transaction, the chief accounting officer now owns 171 shares of the company’s stock, valued at approximately $22,664.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $116.54, for a total transaction of $2,429,859.00. Following the completion of the transaction, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $11,969,473.78. The disclosure for this sale can be found here. Insiders sold a total of 107,228 shares of company stock worth $9,624,096 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Etsy by 4.9% in the first quarter. Amalgamated Bank now owns 33,671 shares of the specialty retailer’s stock worth $4,185,000 after acquiring an additional 1,586 shares in the last quarter. Rovin Capital UT ADV purchased a new position in shares of Etsy in the first quarter worth approximately $204,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Etsy by 5.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 51,390 shares of the specialty retailer’s stock worth $6,386,000 after acquiring an additional 2,698 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Etsy by 6.7% in the first quarter. Rehmann Capital Advisory Group now owns 2,163 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 136 shares in the last quarter. Finally, Toroso Investments LLC increased its position in shares of Etsy by 30.5% in the first quarter. Toroso Investments LLC now owns 21,594 shares of the specialty retailer’s stock worth $2,684,000 after acquiring an additional 5,041 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

About Etsy (NASDAQ:ETSY)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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