Etsy (NASDAQ:ETSY) PT Lowered to $52.00 at Morgan Stanley

Etsy (NASDAQ:ETSY) had its price target reduced by Morgan Stanley from $55.00 to $52.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s target price indicates a potential downside of 11.65% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. B. Riley reduced their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday. Barclays reduced their price target on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday. Needham & Company LLC cut their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group cut their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.75.

Etsy Stock Performance

NASDAQ:ETSY traded down $10.88 during trading hours on Thursday, reaching $58.86. The company’s stock had a trading volume of 14,724,413 shares, compared to its average volume of 3,803,430. The company has a market capitalization of $6.89 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81. The stock has a 50 day moving average price of $68.28 and a two-hundred day moving average price of $71.65.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same period last year, the firm earned $0.53 earnings per share. Etsy’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts predict that Etsy will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the sale, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the sale, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Etsy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Etsy by 23.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after acquiring an additional 57,785 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after buying an additional 48,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Etsy in the fourth quarter worth about $2,273,000. International Assets Investment Management LLC acquired a new position in shares of Etsy in the fourth quarter worth about $38,490,000. Finally, CVA Family Office LLC acquired a new position in shares of Etsy in the fourth quarter worth about $27,000. Institutional investors and hedge funds 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.