Etsy (NASDAQ:ETSY) Price Target Lowered to $60.00 at Barclays

Etsy (NASDAQ:ETSY) had its price target lowered by Barclays from $67.00 to $60.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently issued reports on the stock. BTIG Research dropped their target price on shares of Etsy from $90.00 to $87.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Morgan Stanley reiterated an underweight rating and set a $55.00 target price (down previously from $65.00) on shares of Etsy in a research report on Thursday, April 18th. Loop Capital cut shares of Etsy from a hold rating to a sell rating and dropped their target price for the stock from $70.00 to $50.00 in a research report on Thursday. Evercore ISI dropped their target price on shares of Etsy from $95.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Finally, UBS Group dropped their target price on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $79.96.

Etsy Stock Performance

Shares of ETSY stock traded up $0.73 during mid-day trading on Thursday, reaching $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The company has a market cap of $7.02 billion, a P/E ratio of 27.38, a PEG ratio of 4.16 and a beta of 2.00. The firm’s 50-day moving average is $67.77 and its two-hundred day moving average is $71.52.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Etsy will post 2.55 EPS for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 63,047 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on 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 owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds have recently bought and sold shares of ETSY. CVA Family Office LLC acquired a new stake in Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC bought a new stake in shares of Etsy in the third quarter worth $28,000. Sunbelt Securities Inc. lifted its position in shares of 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 purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.