Shares of Etsy Inc (NASDAQ:ETSY) have been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.55.

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price (up from $16.00) on shares of Etsy in a report on Thursday, November 2nd. BidaskClub raised Etsy from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Ifs Securities reissued an “outperform” rating and set a $22.00 price objective (up from $18.00) on shares of Etsy in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $14.50 price objective on shares of Etsy in a research note on Wednesday, October 4th.

Shares of Etsy (NASDAQ ETSY) traded up $0.02 during mid-day trading on Monday, hitting $20.25. The stock had a trading volume of 2,380,299 shares, compared to its average volume of 2,360,000. Etsy has a 1 year low of $9.41 and a 1 year high of $21.86. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2,470.00 and a PE ratio of 168.75.

Etsy announced that its Board of Directors has authorized a stock buyback program on Friday, November 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Frederick R. Wilson sold 87,938 shares of the company’s stock in a transaction that occurred 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 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 SEC, which is available at this link. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Etsy by 4.3% during the second quarter. Vanguard Group Inc. now owns 7,873,527 shares of the specialty retailer’s stock valued at $118,103,000 after buying an additional 325,998 shares during the last quarter. BlackRock Inc. grew its stake 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 valued at $100,523,000 after buying an additional 351,751 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Etsy during the second quarter valued at approximately $95,291,000. TPG Group Holdings SBS Advisors Inc. grew its stake in shares of Etsy by 2,287.5% during the second 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 buying an additional 4,794,297 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Etsy by 4.4% during the second quarter. State Street Corp now owns 2,401,810 shares of the specialty retailer’s stock valued at $36,040,000 after buying an additional 101,859 shares during the last quarter. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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