Etsy (ETSY) Sets New 52-Week High at $55.71

Etsy Inc (NASDAQ:ETSY) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.71 and last traded at $52.58, with a volume of 238535 shares changing hands. The stock had previously closed at $54.10.

Several research firms have recently issued reports on ETSY. DA Davidson upped their price objective on Etsy from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, August 8th. Loop Capital upped their price objective on Etsy to $65.00 and gave the company a “buy” rating in a research note on Friday, September 14th. BidaskClub downgraded Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Morgan Stanley raised Etsy from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $36.00 to $48.00 in a research note on Wednesday, October 24th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Etsy has a consensus rating of “Buy” and an average price target of $45.96.

The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 136.87, a P/E/G ratio of 6.46 and a beta of 0.61. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 0.90.

Etsy (NASDAQ:ETSY) last released its earnings results on Tuesday, November 6th. The specialty retailer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $150.37 million during the quarter, compared to the consensus estimate of $149.76 million. Etsy had a net margin of 15.00% and a return on equity of 14.20%. The company’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities research analysts anticipate that Etsy Inc will post 0.43 earnings per share for the current year.

In other Etsy news, Director Melissa Reiff sold 35,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $46.01, for a total transaction of $1,610,350.00. Following the completion of the sale, the director now owns 25,285 shares of the company’s stock, valued at approximately $1,163,362.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick R. Wilson sold 22,062 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $45.48, for a total transaction of $1,003,379.76. Following the sale, the director now directly owns 23,487 shares of the company’s stock, valued at approximately $1,068,188.76. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in shares of Etsy by 16.7% during the 2nd quarter. Sei Investments Co. now owns 52,631 shares of the specialty retailer’s stock worth $2,220,000 after buying an additional 7,547 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Etsy by 48.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 344,800 shares of the specialty retailer’s stock worth $14,547,000 after buying an additional 112,000 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Etsy during the 2nd quarter worth approximately $672,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Etsy by 39.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 92,205 shares of the specialty retailer’s stock worth $3,890,000 after buying an additional 26,195 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Etsy by 29.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,965 shares of the specialty retailer’s stock worth $463,000 after buying an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.

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About Etsy (NASDAQ:ETSY)

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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