Etsy (NASDAQ:ETSY) Trading 8.3% Higher

Etsy Inc (NASDAQ:ETSY)’s stock price traded up 8.3% during trading on Thursday . The company traded as high as $133.09 and last traded at $131.69. 5,740,676 shares changed hands during trading, an increase of 49% from the average session volume of 3,865,468 shares. The stock had previously closed at $121.63.

Several brokerages have recently issued reports on ETSY. BidaskClub cut Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. DA Davidson increased their price objective on Etsy from $90.00 to $160.00 in a research note on Monday, August 10th. Royal Bank of Canada increased their price objective on Etsy from $79.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Canaccord Genuity increased their price objective on Etsy from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley increased their target price on Etsy from $65.00 to $68.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the stock. Etsy presently has an average rating of “Buy” and a consensus price target of $129.27.

The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 1.63. The firm has a market cap of $15.71 billion, a PE ratio of 107.85, a P/E/G ratio of 1.96 and a beta of 1.39. The company’s 50-day moving average is $119.73 and its 200 day moving average is $90.09.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, August 5th. The specialty retailer reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.36. The firm had revenue of $428.74 million for the quarter, compared to analyst estimates of $334.37 million. Etsy had a net margin of 13.78% and a return on equity of 35.91%. On average, research analysts predict that Etsy Inc will post 2.01 EPS for the current fiscal year.

In other news, CAO Merilee Buckley sold 769 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $113.76, for a total transaction of $87,481.44. Following the transaction, the chief accounting officer now owns 1,166 shares in the company, valued at approximately $132,644.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Goyal Kruti Patel sold 3,399 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $124.99, for a total transaction of $424,841.01. Following the transaction, the insider now owns 22,808 shares in the company, valued at approximately $2,850,771.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,294 shares of company stock worth $25,533,072. Company insiders own 3.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP increased its position in shares of Etsy by 77.8% during the 2nd quarter. Two Sigma Advisers LP now owns 2,111,700 shares of the specialty retailer’s stock worth $224,326,000 after purchasing an additional 924,200 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Etsy by 725.2% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 85,823 shares of the specialty retailer’s stock worth $9,116,000 after purchasing an additional 75,423 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Etsy by 6.1% during the 2nd quarter. Principal Financial Group Inc. now owns 372,134 shares of the specialty retailer’s stock worth $39,532,000 after purchasing an additional 21,289 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Etsy by 5.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,720 shares of the specialty retailer’s stock worth $502,000 after purchasing an additional 231 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Etsy by 5.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 34,565 shares of the specialty retailer’s stock worth $3,516,000 after purchasing an additional 1,934 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Etsy Company Profile (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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