Etsy (NASDAQ:ETSY) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, December 9th.
A number of other analysts also recently issued reports on ETSY. Ifs Securities reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Etsy in a research report on Thursday, August 24th. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. DA Davidson began coverage on Etsy in a research report on Wednesday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. Piper Jaffray Companies reiterated a “neutral” rating and set a $14.50 price target on shares of Etsy in a report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target (up previously from $16.00) on shares of Etsy in a report on Thursday, November 2nd. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.69.
Etsy (NASDAQ ETSY) traded up $0.38 during trading hours on Friday, hitting $20.83. The company had a trading volume of 1,899,524 shares, compared to its average volume of 1,592,700. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2,540.00 and a P/E ratio of 173.58. Etsy has a twelve month low of $9.41 and a twelve month high of $21.86.
Etsy announced that its Board of Directors has initiated a share repurchase program on Friday, November 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Frederick R. Wilson sold 87,938 shares of the business’s 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 owns 822,062 shares in the company, valued at $13,350,286.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
Several large investors have recently modified their holdings of ETSY. UBS Group AG boosted its holdings in shares of Etsy by 30.7% during the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 2,373 shares during the period. Royal Bank of Canada boosted its holdings in shares of Etsy by 30.3% during the second quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after acquiring an additional 2,049 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Etsy by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 1,092 shares during the period. Trexquant Investment LP bought a new stake in shares of Etsy during the third quarter worth approximately $192,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Etsy in the third quarter valued at approximately $211,000. Institutional investors own 74.40% of the company’s stock.
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Etsy Company Profile
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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