The Vanguard Group, Inc. has recently announced that it has increased stake in Etsy Inc. (NASDAQ:ETSY) by 0.31%. After grabbing 13.23 million shares, the institutional investor is now in possession of 40427.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 10.45% having worth around $1.24 billion. Moreover, Wellington Management Co. LLP increased its share by 1.66 million to have a control over 9.29 million shares. And AllianceBernstein LP raised its holdings to 1.26 million shares by acquiring 6.26 million shares or 4.94% of the stake.
Etsy Inc. (ETSY) concluded trading on 11/16/22 at a closing price of $119.72, with 4.08 million shares of worth about $488.37 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 51.85% during that period and on Wednesday the price saw a loss of about -4.46%. Currently the company’s common shares owned by public are about 126.35M shares, out of which, 124.75M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 27 analysts are covering the ETSY stock and their offered price forecasts bring an average price target of $116.17. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $186.00 and could fall to a lowest price of $47.00. The stock’s current price level is -3.56% below of average price target set by the analysts, while a dip to estimated low would result in loss of -154.72% for the stock. However, touching the estimated high of $186.00 would mean a gain of 35.63% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 298 times over the past 12 months. They bought 774,754 shares in 60 of the transactions. In 238 selling transactions, insiders dumped 612,068 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Etsy Inc. Vanguard Total Stock Market Index is currently holding 3.79 million shares of worth totaling $355.55 million. The company recently came selling 2386.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard Mid Cap Index Fund sold 1533.0 shares, after which its hold over company’s outstanding shares shrunk to 2.31%, leaving 2.92 million shares with the mutual fund that have a worth of about $274.27 million. Vanguard 500 Index Fund, after selling 2.87 million shares, have now control over 2.27% of the stake in the company. It holds 26329.0 shares of worth $269.43 million.
Etsy Inc. (NASDAQ: ETSY) started trading at $120.09, below -$5.22 from concluding price of the previous day. However, the stock later moved at a day high price of 122.20, or with a loss of -4.46%. Stock saw a price change of 26.07% in past 5 days and over the past one month there was a price change of 19.15%. Year-to-date (YTD), ETSY shares are showing a performance of -45.32% which decreased to -58.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $67.01 but also hit the highest price of $307.75 during that period. The average intraday trading volume for Etsy Inc. shares is 3.23 million. The stock is currently trading 17.59% above its 20-day simple moving average (SMA20), while that difference is up 15.45% for SMA50 and it goes to 12.24% higher than SMA200.
The Vanguard Group, Inc. acquired 13.23 million shares of Etsy Inc. having value of about $1.24 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 40427.0 shares in the company valued at close to $4839920.44, or have control over 0.31% stake in the company. Holding of mutual funds in the company is about 43.28% while other institutional holders and individual stake holders have control over 57.98% and 12.83% of the stake respectively.
The stock has a current market capitalization of $14.34B and its 3Y-monthly beta is at 1.72. It has posted earnings per share of -$5.45 in the same period. It has Quick Ratio of 2.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ETSY, volatility over the week remained 6.60% while standing at 6.59% over the month.
Analysts are in expectations that Etsy Inc. (ETSY) stock would likely to be making an EPS of $0.37 in the current quarter, while forecast for next quarter EPS is $0.69 and it is $2.54 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.24 which is $0.48 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 23.60% while it is estimated to increase by 162.20% in next year. EPS is likely to shrink at an annualized rate of -1.70% for next 5-years, compared to annual growth of 71.40% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by MoffettNathanson on November 15, 2022 offering a Market perform rating for the stock and assigned a target price of $116 to it. Coverage by Goldman stated Etsy Inc. (ETSY) stock as a Buy in their note to investors on October 10, 2022, suggesting a price target of $130 for the stock. On October 04, 2022, Guggenheim Resumed their recommendations, while on September 20, 2022, BofA Securities Initiated their ratings for the stock with a price target of $120. Stock get an Equal weight rating from Barclays on August 15, 2022.