Etsy (NASDAQ:ETSY) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.
Several other research analysts also recently commented on ETSY. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $14.50 price objective on shares of Etsy in a report on Wednesday, October 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Etsy in a report on Thursday, November 2nd. 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, Ifs Securities reiterated an “outperform” rating and issued a $22.00 price objective (up previously from $18.00) on shares of Etsy in a report on Tuesday, November 7th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.69.
Etsy (ETSY) opened at $20.25 on Friday. The company has a market capitalization of $2,464.72, a PE ratio of 168.75, a PEG ratio of 3.94 and a beta of 1.17. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.19. Etsy has a twelve month low of $9.41 and a twelve month high of $21.86.
Etsy announced that its board has initiated a stock buyback program on Friday, November 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Frederick R. Wilson sold 87,938 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $16.24, for a total value of $1,428,113.12. Following the sale, the director now directly owns 822,062 shares of the company’s stock, valued at $13,350,286.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Janus Henderson Group PLC bought a new stake in shares of Etsy in the second quarter worth about $95,291,000. TPG Group Holdings SBS Advisors Inc. boosted 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 valued at $75,058,000 after acquiring an additional 4,794,297 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in Etsy during the 2nd quarter valued at approximately $16,650,000. Prudential Financial Inc. bought a new stake in Etsy during the 3rd quarter valued at approximately $13,091,000. Finally, Pictet Asset Management Ltd. bought a new stake in Etsy during the 3rd quarter valued at approximately $11,541,000. 74.40% of the stock is currently owned by institutional investors.
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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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