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

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

A number of other analysts have also commented on the company. Wells Fargo & Company decreased their price objective on Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Thursday. Barclays decreased their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday. UBS Group reduced their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. B. Riley reduced their target price on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler upped their target price on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $79.75.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $10.88 during midday trading 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 firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 4.81 and a beta of 2.00. The firm has a 50 day moving average price of $68.28 and a two-hundred day moving average price of $71.65. Etsy has a fifty-two week low of $56.60 and a fifty-two week high of $102.81.

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

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. In the last quarter, 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

A number of large investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in Etsy during the fourth quarter valued at approximately $27,000. Operose Advisors LLC purchased a new stake in Etsy during the third quarter valued at approximately $28,000. Sunbelt Securities Inc. raised its position in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC raised 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 purchasing an additional 358 shares during the period. Finally, Tompkins Financial Corp bought a new position in shares of Etsy during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

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.