Etsy (NASDAQ:ETSY) PT Lowered to $62.00

Etsy (NASDAQ:ETSY) had its price objective decreased by research analysts at Citigroup from $72.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price objective suggests a potential upside of 3.39% from the stock’s previous close.

Several other analysts have also commented on the company. UBS Group dropped their price objective on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Barclays cut their price target on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reduced their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Four equities 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 currently has a consensus rating of “Hold” and an average target price of $79.96.

Etsy Stock Up 1.2 %

Shares of NASDAQ ETSY traded up $0.73 during midday trading on Thursday, reaching $59.97. 5,617,654 shares of the stock were exchanged, compared to its average volume of 3,661,918. The firm has a market cap 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 firm has a 50-day simple moving average of $67.77 and a two-hundred day simple moving average of $71.52. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81.

Etsy (NASDAQ:ETSY) last released 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 10.75% and a negative return on equity of 67.27%. The firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the previous year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that Etsy will post 2.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Josh Silverman sold 63,047 shares of the business’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 completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’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 value of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock valued at $4,836,827 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Arizona State Retirement System lifted its stake in shares of Etsy by 0.5% in the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after acquiring an additional 157 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Etsy by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 161 shares during the period. Truist Financial Corp raised its stake in shares of Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after buying an additional 168 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Etsy by 1.1% in the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after buying an additional 172 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Etsy by 0.9% during the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock worth $1,587,000 after acquiring an additional 184 shares during the period. 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.