Etsy (NASDAQ:ETSY) PT Lowered to $75.00

Etsy (NASDAQ:ETSY) had its price target reduced by equities researchers at Truist Financial from $85.00 to $75.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target suggests a potential upside of 25.06% from the company’s current price.

ETSY has been the topic of several other reports. BTIG Research decreased their price target on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Piper Sandler lifted their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $80.00 in a research note on Wednesday, January 10th. UBS Group lowered their price objective on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Finally, Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and reduced their target price for the stock from $70.00 to $50.00 in a research report on Thursday. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Price Performance

Shares of NASDAQ ETSY traded up $0.73 on Thursday, hitting $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The stock has a 50 day moving average of $67.77 and a 200-day moving average of $71.52. Etsy has a 12-month low of $56.60 and a 12-month high of $102.81. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.16 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 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 company had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same quarter last year, the company posted $0.53 EPS. Etsy’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Etsy will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy 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 directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at $943,571.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 63,047 shares of the 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 $1,677,650. The disclosure for this sale can be found here. Insiders sold a total of 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 the company. CVA Family Office LLC bought a new stake in shares of Etsy in the 4th quarter valued at approximately $27,000. Operose Advisors LLC bought a new stake in Etsy during the third quarter valued at $28,000. Sunbelt Securities Inc. raised its holdings in shares of Etsy by 3,900.0% during 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 during the period. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 358 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds 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.