Etsy (NASDAQ:ETSY) Price Target Cut to $105.00

Etsy (NASDAQ:ETSY) had its price objective decreased by equities research analysts at Canaccord Genuity Group from $125.00 to $105.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 77.07% from the company’s previous close.

ETSY has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC decreased their target price on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company dropped their price target on Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Thursday. Wedbush lowered their price objective on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, BTIG Research reduced their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target of $79.96.

Etsy Stock Down 15.0 %

ETSY traded down $10.44 during midday trading on Thursday, hitting $59.30. 19,777,444 shares of the company were exchanged, compared to its average volume of 3,846,773. The firm has a market capitalization of $6.94 billion, a P/E ratio of 26.35, a P/E/G ratio of 4.81 and a beta of 2.00. The firm’s 50 day moving average price is $68.28 and its 200-day moving average price is $71.65. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. On average, sell-side analysts predict that Etsy will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ETSY. CVA Family Office LLC bought a new stake in shares of Etsy during the 4th quarter worth $27,000. Operose Advisors LLC purchased a new position in shares of Etsy during the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. boosted its stake in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in shares of Etsy in the 4th quarter worth approximately $41,000. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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.