Shares of Etsy Inc (NASDAQ:ETSY) have been given an average recommendation of “Hold” by the seventeen analysts that are presently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.55.
A number of analysts have weighed in on the company. BidaskClub lowered Etsy from a “strong-buy” rating to a “buy” rating in a report on Saturday. KeyCorp assumed coverage on Etsy in a report on Wednesday, December 20th. They set an “overweight” rating for the company. Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Ifs Securities restated an “outperform” rating and set a $22.00 target price (up previously from $18.00) on shares of Etsy in a report on Tuesday, November 7th. Finally, Royal Bank of Canada upped their target price on Etsy from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th.
Etsy (NASDAQ ETSY) traded up $0.02 during trading on Monday, reaching $20.25. The company’s stock had a trading volume of 2,380,299 shares, compared to its average volume of 2,360,000. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.26 and a current ratio of 4.26. The stock has a market capitalization of $2,470.00 and a price-to-earnings ratio of 168.75. Etsy has a one year low of $9.41 and a one year high of $21.86.
Etsy declared that its Board of Directors has initiated a share repurchase program on Friday, November 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Frederick R. Wilson sold 87,938 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 822,062 shares of the company’s stock, valued at $13,350,286.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in shares of Etsy during the second quarter worth $95,291,000. TIAA CREF Investment Management LLC increased its position in shares of Etsy by 5.2% during the second quarter. TIAA CREF Investment Management LLC now owns 572,934 shares of the specialty retailer’s stock worth $8,594,000 after purchasing an additional 28,173 shares in the last quarter. Caldwell & Orkin Inc. acquired a new position in shares of Etsy during the second quarter worth $853,000. Goodnow Investment Group LLC increased its position in shares of Etsy by 81.0% during the second quarter. Goodnow Investment Group LLC now owns 1,371,566 shares of the specialty retailer’s stock worth $20,573,000 after purchasing an additional 613,990 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Etsy by 5.5% during the second quarter. BlackRock Inc. now owns 6,701,573 shares of the specialty retailer’s stock worth $100,523,000 after purchasing an additional 351,751 shares in the last quarter. 74.40% of the stock is currently owned by institutional investors and hedge funds.
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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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