Investors Buy Shares of Etsy (ETSY) on Weakness

Investors purchased shares of Etsy Inc (NASDAQ:ETSY) on weakness during trading on Friday. $212.56 million flowed into the stock on the tick-up and $25.49 million flowed out of the stock on the tick-down, for a money net flow of $187.07 million into the stock. Of all companies tracked, Etsy had the 11th highest net in-flow for the day. Etsy traded down ($0.02) for the day and closed at $69.89

A number of analysts recently weighed in on ETSY shares. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Goldman Sachs Group raised shares of Etsy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $54.00 in a research report on Friday, January 4th. Deutsche Bank started coverage on shares of Etsy in a research report on Tuesday, January 29th. They issued a “buy” rating and a $64.00 price objective on the stock. Roth Capital reissued a “buy” rating and issued a $52.00 price objective on shares of Etsy in a research report on Wednesday, February 13th. Finally, ValuEngine raised shares of Etsy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 19th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $66.29.

The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $8.36 billion, a P/E ratio of 114.57, a PEG ratio of 7.58 and a beta of 1.04.

Etsy (NASDAQ:ETSY) last issued its earnings results on Monday, February 25th. The specialty retailer reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The business had revenue of $200.00 million for the quarter, compared to the consensus estimate of $194.77 million. Etsy had a net margin of 12.84% and a return on equity of 20.00%. The company’s revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. Equities analysts forecast that Etsy Inc will post 0.69 EPS for the current year.

In other Etsy news, General Counsel Jill Simeone sold 11,572 shares of the company’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $50.00, for a total value of $578,600.00. Following the transaction, the general counsel now directly owns 2,859 shares in the company, valued at approximately $142,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan D. Klein sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $70.83, for a total transaction of $2,124,900.00. Following the transaction, the director now owns 109,265 shares in the company, valued at $7,739,239.95. The disclosure for this sale can be found here. Insiders sold a total of 121,050 shares of company stock worth $8,048,323 over the last 90 days. Insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. bought a new position in shares of Etsy during the third quarter valued at approximately $29,000. Optimum Investment Advisors bought a new position in shares of Etsy during the fourth quarter valued at approximately $33,000. Quantamental Technologies LLC bought a new position in shares of Etsy during the fourth quarter valued at approximately $43,000. First Quadrant L P CA bought a new position in shares of Etsy during the fourth quarter valued at approximately $45,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Etsy during the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 93.22% of the company’s stock.

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About Etsy (NASDAQ:ETSY)

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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