Etsy (NASDAQ:ETSY) Coverage Initiated at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Etsy (NASDAQ:ETSY) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating and a $50.00 price target on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.28% from the company’s current price.

A number of other equities research analysts have also commented on ETSY. Citigroup decreased their price objective on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Moffett Nathanson increased their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley reduced their target price on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Finally, Loop Capital reduced their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.42.

Etsy Price Performance

NASDAQ:ETSY opened at $44.93 on Wednesday. Etsy has a one year low of $43.43 and a one year high of $71.72. The stock has a market cap of $4.81 billion, a P/E ratio of 18.96, a PEG ratio of 2.57 and a beta of 2.23. The company has a fifty day moving average price of $51.72 and a 200 day moving average price of $52.96.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, equities research analysts anticipate that Etsy will post 2.57 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC boosted its position in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the period. True Wealth Design LLC boosted its position in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC bought a new stake in shares of Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the fourth quarter valued at about $34,000. Finally, Summit Securities Group LLC acquired a new position in Etsy in the fourth quarter valued at about $37,000. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.