Etsy (NASDAQ:ETSY) Now Covered by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. started coverage on shares of Etsy (NASDAQ:ETSY) in a report released on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $50.00 price target on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.96% from the company’s previous close.

Several other equities research analysts have also commented on ETSY. Loop Capital dropped their price target 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. Truist Financial reduced their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Cantor Fitzgerald reduced their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Canaccord Genuity Group reduced their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.42.

Etsy Stock Down 3.5 %

ETSY opened at $44.66 on Wednesday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy has a fifty-two week low of $43.75 and a fifty-two week high of $71.72. The company’s 50-day moving average price is $52.06 and its 200 day moving average price is $53.07.

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

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in 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 buying an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its position in Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after buying an additional 218 shares in the last quarter. Heron Bay Capital Management boosted its position in Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after buying an additional 258 shares in the last quarter. Denver PWM LLC boosted its position in Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 289 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in 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 buying an additional 292 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

About Etsy

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.