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Etsy (NASDAQ:ETSY) Trading Up 3.8% on Analyst Upgrade – MarketBeat

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Etsy, Inc. (NASDAQ:ETSYGet Rating) shares were up 3.8% during trading on Thursday after Guggenheim raised their price target on the stock from $105.00 to $125.00. The company traded as high as $116.82 and last traded at $116.58. Approximately 12,304 shares traded hands during trading, a decline of 100% from the average daily volume of 2,727,410 shares. The stock had previously closed at $112.33.
Several other equities research analysts have also issued reports on the stock. DA Davidson lowered their price target on shares of Etsy from $185.00 to $146.00 in a report on Wednesday, July 20th. KeyCorp started coverage on shares of Etsy in a research report on Wednesday, July 20th. They issued a “sector weight” rating on the stock. Needham & Company LLC downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. StockNews.com cut Etsy from a “hold” rating to a “sell” rating in a research note on Thursday, September 15th. Finally, Oppenheimer raised their price target on shares of Etsy from $120.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and an average price target of $125.00.

Insider Buying and Selling

In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $90.73, for a total transaction of $1,891,720.50. Following the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $9,318,606.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $90.73, for a total value of $1,891,720.50. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $9,318,606.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Ryan M. Scott sold 6,146 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $104.00, for a total value of $639,184.00. Following the sale, the chief marketing officer now owns 4,170 shares of the company’s stock, valued at $433,680. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,268 shares of company stock worth $12,990,246. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Eaton Vance Management boosted its position in Etsy by 145.2% during the fourth quarter. Eaton Vance Management now owns 11,863 shares of the specialty retailer’s stock worth $2,390,000 after acquiring an additional 7,024 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Etsy by 585.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 18,122 shares of the specialty retailer’s stock worth $3,968,000 after purchasing an additional 15,477 shares during the period. Marshall Wace LLP grew its holdings in Etsy by 152.1% during the 4th quarter. Marshall Wace LLP now owns 221,249 shares of the specialty retailer’s stock worth $48,441,000 after acquiring an additional 133,502 shares in the last quarter. Legal & General Group Plc increased its holdings in Etsy by 0.3% in the fourth quarter. Legal & General Group Plc now owns 965,724 shares of the specialty retailer’s stock valued at $211,435,000 after buying an additional 3,036 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. acquired a new stake in shares of Etsy during the 4th quarter worth about $1,064,000. Institutional investors and hedge funds own 98.68% of the company’s stock.

Etsy Trading Up 1.7 %

The business’s 50-day moving average is $107.43 and its two-hundred day moving average is $99.45. The stock has a market capitalization of $14.46 billion, a PE ratio of 39.55, a PEG ratio of 5.81 and a beta of 1.81. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 4.10.
Etsy (NASDAQ:ETSYGet Rating) last issued its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. The business had revenue of $585.20 million during the quarter, compared to the consensus estimate of $556.85 million. Etsy had a return on equity of 67.88% and a net margin of 17.01%. During the same period in the prior year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Etsy, Inc. will post 2.35 earnings per share for the current fiscal year.

About Etsy

(Get Rating)
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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