Etsy (NYSE:ETSY) Upgraded at President Capital

Etsy (NYSE:ETSY) was upgraded by stock analysts at President Capital from a “neutral” rating to a “buy” rating in a report issued on Thursday,MarketScreener reports. The firm presently has a $91.00 target price on the stock, up from their prior target price of $57.00. President Capital’s price target would suggest a potential upside of 16.50% from the company’s current price.

Other research analysts also recently issued reports about the stock. Needham & Company LLC increased their target price on shares of Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Citigroup began coverage on shares of Etsy in a report on Thursday, May 21st. They issued an “outperform” rating on the stock. BTIG Research upped their price objective on Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised Etsy from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Morgan Stanley set a $64.00 target price on Etsy in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.80.

Etsy Price Performance

Shares of ETSY stock traded up $0.09 on Thursday, hitting $78.11. The stock had a trading volume of 281,230 shares, compared to its average volume of 3,354,068. The business has a 50 day moving average of $65.36 and a 200 day moving average of $58.30. Etsy has a 12-month low of $44.00 and a 12-month high of $79.90. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 2.98 and a beta of 1.88.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 52,479 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $74.00, for a total transaction of $3,883,446.00. Following the sale, the insider owned 130,694 shares in the company, valued at approximately $9,671,356. This trade represents a 28.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of Etsy stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the sale, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $423,280.27. This trade represents a 42.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 553,988 shares of company stock valued at $37,027,108. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. EFG International AG purchased a new stake in Etsy during the 4th quarter valued at $33,000. Danske Bank A S bought a new position in shares of Etsy during the third quarter valued at about $66,000. Federation des caisses Desjardins du Quebec raised its stake in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Finally, MAI Capital Management boosted its holdings in shares of Etsy by 215.0% during the third quarter. MAI Capital Management now owns 1,320 shares of the company’s stock worth $88,000 after purchasing an additional 901 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.