Etsy (NYSE:ETSY) Trading 5.4% Higher – Still a Buy?

Etsy Inc (NYSE:ETSY)’s stock price rose 5.4% during trading on Monday . The company traded as high as $85.37 and last traded at $85.37. 1,281,420 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 3,243,100 shares. The stock had previously closed at $81.03.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETSY. Weiss Ratings downgraded Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Evercore set a $83.00 price objective on Etsy in a research report on Thursday, August 6th. Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Barclays boosted their price objective on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average price target of $84.68.

Etsy Stock Down 2.8%

The firm has a market cap of $8.03 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 4.21 and a beta of 1.84. The stock has a 50 day moving average price of $80.28 and a two-hundred day moving average price of $65.74.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The company had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, equities analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other news, CAO Merilee Buckley sold 405 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.50, for a total transaction of $32,197.50. Following the sale, the chief accounting officer directly owned 167 shares of the company’s stock, valued at $13,276.50. The trade was a 70.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the transaction, the director owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 584,967 shares of company stock valued at $43,908,631. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of the business. EFG International AG purchased a new stake in Etsy in the fourth quarter valued at $33,000. Global Retirement Partners LLC acquired a new position in shares of Etsy in the 2nd quarter valued at about $34,000. Blue Trust Inc. lifted its holdings in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares during the period. Danske Bank A S purchased a new stake in shares of Etsy in the third quarter worth about $66,000. Finally, Federation des caisses Desjardins du Quebec boosted its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.