Etsy (NASDAQ:ETSY) PT Lowered to $75.00

Etsy (NASDAQ:ETSY) had its target price decreased by investment analysts at Needham & Company LLC from $95.00 to $75.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Needham & Company LLC’s price objective points to a potential upside of 25.06% from the company’s previous close.

Several other equities research analysts also recently commented on ETSY. Wells Fargo & Company decreased their target price on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Evercore ISI decreased 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. Morgan Stanley reissued an “underweight” rating and set a $55.00 target price (down from $65.00) on shares of Etsy in a research report on Thursday, April 18th. Truist Financial decreased their target price on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Up 1.2 %

ETSY traded up $0.73 during midday trading on Thursday, hitting $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a 52 week low of $56.60 and a 52 week high of $102.81. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 4.16 and a beta of 2.00. The stock’s 50 day moving average price is $67.77 and its 200 day moving average price is $71.52.

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 net margin of 10.75% and a negative return on equity of 67.27%. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts predict that Etsy will post 2.55 EPS for the current year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the business’s 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 sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Bares Capital Management Inc. grew its holdings in Etsy by 57.8% during the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after buying an additional 1,480,655 shares in the last quarter. Norges Bank purchased a new position in Etsy during the fourth quarter valued at approximately $86,494,000. Van ECK Associates Corp increased its holdings in Etsy by 40.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after acquiring an additional 1,047,811 shares during the period. TD Asset Management Inc lifted its stake in Etsy by 260.2% in the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in Etsy by 84.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the period. 99.53% of the stock is currently owned by institutional investors.

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.