Etsy (NASDAQ:ETSY) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Etsy (NASDAQ:ETSY) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $50.00 target price on the specialty retailer’s stock.

ETSY has been the topic of several other reports. Loop Capital cut their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Canaccord Genuity Group cut their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group decreased their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $58.42.

Etsy Stock Performance

Etsy stock opened at $45.11 on Wednesday. Etsy has a one year low of $43.43 and a one year high of $71.72. The stock has a market cap of $4.83 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The stock has a 50-day moving average of $51.57 and a two-hundred day moving average of $52.89.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period last year, the business earned $0.62 EPS. Etsy’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC boosted its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC raised its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC acquired a new position in Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Etsy in the fourth quarter worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in Etsy during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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