Etsy (NASDAQ:ETSY) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Etsy (NASDAQ:ETSY) from a buy rating to a hold rating in a research note published on Wednesday, June 26th, BidAskClub reports.

A number of other equities analysts have also recently commented on ETSY. KeyCorp lifted their price target on Etsy from $75.00 to $90.00 and gave the stock an overweight rating in a report on Friday, March 8th. TheStreet downgraded shares of WESCO International from a b- rating to a c+ rating in a research report on Friday, May 24th. Canaccord Genuity lifted their price target on shares of Roots from C$5.00 to C$5.50 in a research report on Thursday, April 4th. Deutsche Bank reissued a hold rating on shares of Just Eat in a research note on Tuesday, February 26th. Finally, ValuEngine raised shares of VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $70.25.

ETSY stock traded up $1.78 during trading hours on Wednesday, reaching $65.20. 1,963,535 shares of the stock were exchanged, compared to its average volume of 2,631,510. The firm’s 50-day simple moving average is $64.41. The company has a market cap of $7.62 billion, a P/E ratio of 107.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. Etsy has a 12 month low of $38.02 and a 12 month high of $73.35.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The company had revenue of $169.33 million during the quarter, compared to analysts’ expectations of $170.72 million. Etsy had a return on equity of 24.24% and a net margin of 14.74%. Etsy’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Equities analysts expect that Etsy will post 0.79 earnings per share for the current year.

In other news, insider Michael T. Fisher sold 57,292 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $68.65, for a total value of $3,933,095.80. Following the transaction, the insider now directly owns 84,518 shares in the company, valued at $5,802,160.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Michael T. Fisher sold 5,209 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the transaction, the chief technology officer now owns 32,435 shares in the company, valued at $1,988,589.85. The disclosure for this sale can be found here. Insiders sold 85,656 shares of company stock worth $5,691,884 in the last three months. Insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ETSY. BlackRock Inc. grew its stake in Etsy by 2.9% in the 4th quarter. BlackRock Inc. now owns 8,339,528 shares of the specialty retailer’s stock valued at $396,711,000 after acquiring an additional 238,711 shares during the period. First Trust Advisors LP grew its stake in Etsy by 1,054.2% in the 1st quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock valued at $163,112,000 after acquiring an additional 2,216,303 shares during the period. Lord Abbett & CO. LLC grew its stake in Etsy by 265.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock valued at $113,796,000 after acquiring an additional 1,736,734 shares during the period. FMR LLC grew its stake in Etsy by 68.3% in the 4th quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock valued at $89,570,000 after acquiring an additional 763,816 shares during the period. Finally, Northern Trust Corp boosted its stake in Etsy by 2.0% during the 1st quarter. Northern Trust Corp now owns 1,520,823 shares of the specialty retailer’s stock worth $102,230,000 after purchasing an additional 30,357 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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