Etsy (NASDAQ:ETSY) Shares Up 5% – Time to Buy?

Etsy, Inc. (NASDAQ:ETSY)’s share price traded up 5% during mid-day trading on Monday . The stock traded as high as $49.57 and last traded at $49.14. 740,210 shares traded hands during trading, a decline of 79% from the average session volume of 3,534,570 shares. The stock had previously closed at $46.80.

Analyst Upgrades and Downgrades

ETSY has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Canaccord Genuity Group dropped their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Citigroup decreased their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, JMP Securities restated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and a consensus price target of $58.78.

Etsy Stock Performance

The company has a 50-day moving average of $53.17 and a 200-day moving average of $53.53. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock valued at $1,286,445. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Large investors have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Etsy during the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy during the fourth quarter worth $34,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Etsy during the fourth quarter valued at $37,000. 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.