Etsy (NASDAQ:ETSY) Shares Gap Up to $56.86

Shares of Etsy Inc (NASDAQ:ETSY) gapped up before the market opened on Monday . The stock had previously closed at $57.49, but opened at $56.86. Etsy shares last traded at $57.10, with a volume of 61,168 shares.

A number of research firms have weighed in on ETSY. BTIG Research raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, July 25th. Canaccord Genuity set a $85.00 target price on shares of Etsy and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC assumed coverage on shares of Etsy in a research report on Monday, July 1st. They set a “buy” rating and a $75.00 target price on the stock. Stifel Nicolaus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 21st. Finally, BidaskClub lowered shares of Etsy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Etsy currently has a consensus rating of “Buy” and an average target price of $73.27.

The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 4.47. The firm has a market capitalization of $6.97 billion, a PE ratio of 94.82, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. The business’s 50-day moving average price is $55.42 and its 200-day moving average price is $63.39.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Etsy had a net margin of 15.83% and a return on equity of 26.77%. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.28 million. During the same period last year, the firm posted $0.07 EPS. Etsy’s quarterly revenue was up 36.8% on a year-over-year basis. Equities analysts forecast that Etsy Inc will post 0.79 earnings per share for the current year.

In related news, SVP Goyal Kruti Patel sold 4,505 shares of Etsy stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total value of $278,409.00. Following the transaction, the senior vice president now directly owns 16,389 shares in the company, valued at approximately $1,012,840.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $55.30, for a total transaction of $288,002.40. Following the completion of the transaction, the insider now owns 22,580 shares in the company, valued at $1,248,674. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,572 shares of company stock worth $1,987,881. 3.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP boosted its position in shares of Etsy by 3.8% during the 2nd quarter. First Trust Advisors LP now owns 2,519,846 shares of the specialty retailer’s stock worth $154,643,000 after purchasing an additional 93,309 shares in the last quarter. Northern Trust Corp raised its stake in shares of Etsy by 2.0% during the 1st quarter. Northern Trust Corp now owns 1,520,823 shares of the specialty retailer’s stock worth $102,230,000 after buying an additional 30,357 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Etsy by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock worth $71,275,000 after buying an additional 104,042 shares during the last quarter. Invesco Ltd. raised its stake in shares of Etsy by 22.0% during the 2nd quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after buying an additional 266,462 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Etsy by 17.3% during the 2nd quarter. Bank of America Corp DE now owns 979,991 shares of the specialty retailer’s stock worth $60,142,000 after buying an additional 144,564 shares during the last quarter. Institutional investors own 92.44% 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.

Further Reading: What is Elliott Wave theory?

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.