Etsy Inc. (NASDAQ:ETSY) shares gapped up prior to trading on Friday after Citigroup raised their price target on the stock from $16.00 to $20.00. The stock had previously closed at $15.11, but opened at $15.13. Citigroup currently has a buy rating on the stock. Etsy shares last traded at $15.56, with a volume of 1,397,808 shares.
ETSY has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 5th. Roth Capital upgraded shares of Etsy from a “sell” rating to a “neutral” rating and raised their price target for the stock from $6.50 to $14.25 in a research report on Wednesday, August 3rd. Maxim Group increased their price objective on shares of Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. TheStreet raised shares of Etsy from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.59.
In other news, CFO Kristina Salen sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 4,706 shares in the company, valued at approximately $70,590. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Allspaw sold 63,468 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the transaction, the insider now owns 66,864 shares of the company’s stock, valued at approximately $835,800. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares during the period. TFS Capital LLC acquired a new position in Etsy during the second quarter valued at $102,000. Legal & General Group Plc raised its position in Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares during the period. ProShare Advisors LLC acquired a new position in Etsy during the second quarter valued at $123,000. Finally, BNP Paribas Arbitrage SA raised its position in Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares during the period. Institutional investors own 58.14% of the company’s stock.
The firm’s 50-day moving average is $14.18 and its 200-day moving average is $10.85. The firm’s market capitalization is $1.72 billion.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $85.35 million for the quarter, compared to the consensus estimate of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. Equities research analysts expect that Etsy Inc. will post ($0.06) earnings per share for the current year.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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