Etsy Inc (NASDAQ:ETSY) shares reached a new 52-week high on Wednesday after BidaskClub upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $28.33 and last traded at $28.26, with a volume of 1141742 shares. The stock had previously closed at $27.92.
Several other research firms have also weighed in on ETSY. Citigroup lifted their target price on Etsy from $17.50 to $25.50 and gave the stock a “neutral” rating in a report on Monday, March 5th. Piper Jaffray Companies reiterated a “hold” rating and set a $23.00 target price on shares of Etsy in a report on Thursday, March 1st. DA Davidson lifted their target price on Etsy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, KeyCorp lifted their target price on Etsy from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.58.
In other news, Director Jonathan D. Klein sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.31, for a total value of $1,065,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently modified their holdings of ETSY. Parametric Portfolio Associates LLC lifted its holdings in shares of Etsy by 66.3% in the second quarter. Parametric Portfolio Associates LLC now owns 39,095 shares of the specialty retailer’s stock valued at $586,000 after purchasing an additional 15,581 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Etsy by 30.3% in the second quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,049 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Etsy by 276.6% in the third quarter. First Trust Advisors LP now owns 161,992 shares of the specialty retailer’s stock valued at $2,734,000 after purchasing an additional 118,977 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Etsy by 20.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 55,125 shares of the specialty retailer’s stock worth $931,000 after acquiring an additional 9,310 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Etsy during the third quarter worth about $3,159,000. Institutional investors own 79.94% of the company’s stock.
The company has a market cap of $3,450.00 and a price-to-earnings ratio of 67.57. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.16.
Etsy announced that its board has initiated a stock repurchase 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 buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
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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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