Etsy (NASDAQ:ETSY) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Etsy (NASDAQ:ETSY) in a research note published on Friday morning, MarketBeat.com reports. Piper Sandler currently has a $56.00 price target on the specialty retailer’s stock.

Several other analysts have also recently commented on the company. JMP Securities cut Etsy from an outperform rating to a market perform rating in a report on Thursday, May 2nd. Wedbush restated a neutral rating and issued a $65.00 price objective on shares of Etsy in a research report on Monday, July 22nd. Canaccord Genuity Group reduced their target price on shares of Etsy from $125.00 to $105.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus lowered their price target on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a report on Thursday, August 1st. Finally, B. Riley reduced their price objective on Etsy from $91.00 to $83.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $71.55.

Etsy Stock Performance

ETSY opened at $55.40 on Friday. Etsy has a twelve month low of $51.45 and a twelve month high of $89.58. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 5.02 and a beta of 2.02. The firm’s 50-day simple moving average is $58.33 and its 200-day simple moving average is $64.29.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Etsy will post 2.43 EPS for the current fiscal year.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold a total of 2,694 shares of company stock valued at $169,687 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. Principal Securities Inc. acquired a new position in Etsy during the fourth quarter worth $47,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Etsy in the fourth quarter valued at $49,000. Institutional investors and hedge funds 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.