Etsy Inc (NYSE:ETSY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Etsy Inc (NYSE:ETSY) have received a consensus recommendation of “Hold” from the thirty-two ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $70.8750.

Several equities research analysts have recently weighed in on the company. BTIG Research upped their price objective on Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Susquehanna lowered Etsy to a “neutral” rating in a research note on Thursday, May 21st. Raymond James Financial lowered Etsy from an “outperform” rating to an “outperform” rating in a research note on Thursday, May 21st. Barclays upped their price objective on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th.

Etsy Stock Performance

Shares of ETSY stock opened at $66.90 on Wednesday. Etsy has a 52-week low of $44.00 and a 52-week high of $76.51. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 2.76 and a beta of 1.88. The firm has a fifty day moving average of $60.03 and a 200-day moving average of $56.60.

Insider Activity

In other news, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.79, for a total value of $1,375,800.00. Following the sale, the director owned 461,329 shares in the company, valued at approximately $31,734,821.91. The trade was a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $65.09, for a total transaction of $310,869.84. Following the completion of the sale, the insider owned 6,503 shares in the company, valued at $423,280.27. This represents a 42.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 451,509 shares of company stock worth $29,518,662 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ETSY. Lone Pine Capital LLC bought a new stake in shares of Etsy during the third quarter valued at approximately $257,614,000. SG Americas Securities LLC boosted its holdings in Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after acquiring an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after acquiring an additional 1,177,301 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after purchasing an additional 666,253 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.