Etsy, Inc. (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
A number of other research firms also recently commented on ETSY. Royal Bank Of Canada increased their price objective on Etsy from $12.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. BidaskClub downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Roth Capital set a $14.00 price objective on Etsy and gave the company a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $18.00 price objective (up previously from $15.00) on shares of Etsy in a report on Tuesday, November 7th. Finally, DA Davidson assumed coverage on Etsy in a report on Wednesday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.69.
Etsy (ETSY) traded up $0.21 on Monday, hitting $16.72. The stock had a trading volume of 1,042,900 shares, compared to its average volume of 1,919,558. Etsy has a fifty-two week low of $9.41 and a fifty-two week high of $17.90. The stock has a market cap of $2,035.06, a P/E ratio of 66.88, a P/E/G ratio of 2.57 and a beta of 1.19. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19.
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In other Etsy news, Director Frederick R. Wilson sold 87,938 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the sale, the director now directly owns 822,062 shares of the company’s stock, valued at approximately $13,350,286.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ETSY. Janus Henderson Group PLC acquired a new stake in Etsy during the 2nd quarter worth approximately $95,291,000. TPG Group Holdings SBS Advisors Inc. lifted its position in Etsy by 2,287.5% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock worth $75,058,000 after acquiring an additional 4,794,297 shares during the period. Southpoint Capital Advisors LP acquired a new stake in Etsy during the 2nd quarter worth approximately $16,650,000. Prudential Financial Inc. acquired a new stake in shares of Etsy in the 3rd quarter valued at approximately $13,091,000. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of Etsy in the 3rd quarter valued at approximately $11,541,000. 75.25% of the stock is owned by institutional investors.
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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