Bank of America Begins Coverage on Etsy (NASDAQ:ETSY)

Bank of America began coverage on shares of Etsy (NASDAQ:ETSYGet Rating) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $120.00 price objective on the specialty retailer’s stock.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft dropped their price target on Etsy from $100.00 to $90.00 in a research report on Thursday, July 21st. Morgan Stanley dropped their price target on Etsy from $113.00 to $83.00 and set an equal weight rating on the stock in a research report on Thursday, July 28th. Barclays started coverage on Etsy in a research report on Monday, August 15th. They set an equal weight rating and a $100.00 price target on the stock. Truist Financial upped their price target on Etsy from $115.00 to $130.00 and gave the company a buy rating in a research report on Tuesday, August 16th. Finally, KeyCorp assumed coverage on Etsy in a research report on Wednesday, July 20th. They issued a sector weight rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $128.90.

Etsy Trading Down 6.3 %

Shares of NASDAQ ETSY opened at $97.49 on Tuesday. Etsy has a 12 month low of $67.01 and a 12 month high of $307.75. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 34.33, a P/E/G ratio of 4.85 and a beta of 1.86. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 4.10. The business has a fifty day simple moving average of $105.58 and a 200-day simple moving average of $101.80.

Etsy (NASDAQ:ETSYGet Rating) last announced its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $556.85 million. During the same period in the prior year, the business posted $0.68 earnings per share. Etsy’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Etsy will post 2.18 EPS for the current year.

Insider Activity

In related news, 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 transaction of $1,891,720.50. Following the completion of the sale, the chief executive officer now owns 102,707 shares in the company, valued at approximately $9,318,606.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Rachel C. Glaser sold 3,040 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $112.16, for a total transaction of $340,966.40. Following the completion of the sale, the chief financial officer now owns 42,709 shares in the company, valued at approximately $4,790,241.44. The sale was disclosed in a filing 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 shares were 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 of the company’s stock, valued at approximately $9,318,606.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,210 shares of company stock valued at $14,178,593. Insiders own 3.10% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds have recently added to or reduced their stakes in ETSY. Norges Bank bought a new stake in Etsy during the 4th quarter valued at approximately $223,388,000. Van ECK Associates Corp lifted its position in shares of Etsy by 163.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,616,734 shares of the specialty retailer’s stock worth $118,361,000 after acquiring an additional 1,002,642 shares during the period. Clearbridge Investments LLC lifted its position in shares of Etsy by 69.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of Etsy in the 2nd quarter worth approximately $68,052,000. Finally, SRS Investment Management LLC lifted its position in shares of Etsy by 156.5% in the 2nd quarter. SRS Investment Management LLC now owns 1,375,260 shares of the specialty retailer’s stock worth $100,683,000 after acquiring an additional 839,063 shares during the period. Institutional investors own 98.68% of the company’s stock.

About Etsy

(Get Rating)

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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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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