Etsy (NASDAQ:ETSY) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Etsy (NASDAQ:ETSY) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $50.00 target price on the specialty retailer’s stock.

A number of other equities analysts have also recently weighed in on ETSY. Truist Financial reduced their price objective on shares of Etsy from $77.00 to $76.00 and set a buy rating for the company in a research report on Thursday, August 1st. Piper Sandler reiterated a neutral rating and issued a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a sell rating for the company in a research note on Monday, August 12th. Wolfe Research assumed coverage on Etsy in a research report on Tuesday, July 16th. They issued a peer perform rating on the stock. Finally, Stifel Nicolaus dropped their price target on Etsy from $65.00 to $64.00 and set a hold rating for the company in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $70.61.

Etsy Stock Performance

Shares of Etsy stock opened at $53.19 on Thursday. The firm has a 50-day simple moving average of $57.56 and a two-hundred day simple moving average of $62.74. Etsy has a fifty-two week low of $51.45 and a fifty-two week high of $89.58. The company has a market cap of $6.22 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 5.44 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the previous year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Etsy will post 2.37 EPS for the current year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the transaction, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,444 shares of company stock worth $211,237. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Etsy by 3.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 161 shares during the period. Truist Financial Corp grew its holdings in Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after acquiring an additional 168 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Etsy by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after purchasing an additional 172 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Etsy by 0.9% in the 4th quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after purchasing an additional 184 shares in the last quarter. Finally, Accretive Wealth Partners LLC lifted its position in shares of Etsy by 3.8% during the 4th quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after purchasing an additional 226 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

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.