Etsy (NASDAQ:ETSY) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Etsy (NASDAQ:ETSY) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $50.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial reduced their target price on Etsy from $77.00 to $76.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Evercore ISI raised Etsy to a strong-buy rating in a research report on Thursday, August 1st. Loop Capital reduced their price target on shares of Etsy from $50.00 to $45.00 and set a sell rating on the stock in a research report on Monday, August 12th. Oppenheimer cut Etsy from an outperform rating to a market perform rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $70.61.

Etsy Stock Up 2.1 %

Shares of NASDAQ:ETSY opened at $55.75 on Monday. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 5.39 and a beta of 1.97. The firm’s 50-day simple moving average is $55.97 and its 200-day simple moving average is $61.13. Etsy has a fifty-two week low of $50.63 and a fifty-two week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same quarter last year, the business earned $0.83 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts forecast that Etsy will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred 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 owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,000 shares of company stock worth $116,395 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in ETSY. Polen Capital Management LLC increased its stake in Etsy by 83.3% during the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock valued at $2,782,000 after buying an additional 15,598 shares during the period. MCF Advisors LLC lifted its stake in Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after buying an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in Etsy in the 4th quarter worth approximately $267,000. TD Asset Management Inc grew its stake in Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after acquiring an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares during the period. Institutional investors own 99.53% of the company’s stock.

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.