Etsy (NASDAQ:ETSY) PT Lowered to $78.00

Etsy (NASDAQ:ETSY) had its price objective lowered by analysts at BTIG Research from $87.00 to $78.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. BTIG Research’s target price indicates a potential upside of 32.52% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group reduced their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price target on Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Thursday. Needham & Company LLC reduced their price target on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial dropped their price objective on Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays dropped their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.75.

Etsy Trading Down 15.6 %

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

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that Etsy will post 2.56 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently modified their holdings of ETSY. CVA Family Office LLC acquired a new position in Etsy in the 4th quarter worth about $27,000. Operose Advisors LLC acquired a new position in Etsy in the 3rd quarter worth about $28,000. Sunbelt Securities Inc. raised its holdings in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the period. Finally, Tompkins Financial Corp acquired a new position in Etsy in the 4th quarter worth about $41,000. 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.