Bank of America assumed coverage on shares of Etsy (NASDAQ:ETSY) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $120.00 price objective on the specialty retailer's stock.
ETSY has been the topic of a number of other research reports. Oppenheimer boosted their target price on Etsy from $120.00 to $127.00 and gave the company an outperform rating in a research note on Thursday, July 28th. KeyCorp began coverage on Etsy in a research note on Wednesday, July 20th. They issued a sector weight rating on the stock. Truist Financial upped their price target on Etsy from $115.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday, August 16th. Raymond James assumed coverage on Etsy in a research note on Wednesday, June 29th. They set an outperform rating and a $100.00 price target for the company. Finally, UBS Group cut their price objective on Etsy from $180.00 to $90.00 and set a neutral rating for the company in a research report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Etsy presently has an average rating of Hold and an average target price of $128.90.
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Etsy Stock Performance
Shares of ETSY stock opened at $103.97 on Tuesday. Etsy has a 1-year low of $67.01 and a 1-year high of $307.75. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 4.10. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 5.04 and a beta of 1.86. The stock's fifty day simple moving average is $104.81 and its 200-day simple moving average is $102.06.
Etsy (NASDAQ:ETSY – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.13. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The business had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Etsy's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Etsy will post 2.18 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Josh Silverman sold 20,850 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $9,318,606.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Ryan M. Scott sold 712 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total transaction of $71,200.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 102,707 shares in the company, valued at $9,318,606.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,360 shares of company stock worth $11,961,821. Company insiders own 3.10% of the company's stock.
Institutional Investors Weigh In On Etsy
A number of large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its position in Etsy by 0.3% during the 4th quarter. Advisors Asset Management Inc. now owns 20,505 shares of the specialty retailer's stock worth $4,489,000 after acquiring an additional 71 shares during the last quarter. American National Bank grew its position in Etsy by 71.3% during the 1st quarter. American National Bank now owns 209 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Clearstead Advisors LLC grew its position in Etsy by 22.1% during the 2nd quarter. Clearstead Advisors LLC now owns 524 shares of the specialty retailer's stock worth $38,000 after acquiring an additional 95 shares during the last quarter. Motley Fool Asset Management LLC grew its position in Etsy by 3.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 2,913 shares of the specialty retailer's stock worth $257,000 after acquiring an additional 99 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in Etsy by 5.7% during the 4th quarter. Mutual Advisors LLC now owns 1,866 shares of the specialty retailer's stock worth $409,000 after acquiring an additional 100 shares during the last quarter. 98.68% of the stock is currently owned by institutional investors.
Etsy Company Profile
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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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