Etsy (NASDAQ:ETSY) PT Lowered to $60.00

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

A number of other equities analysts also recently commented on ETSY. Wells Fargo & Company reduced their target price on shares of Etsy from $60.00 to $58.00 and set an underweight rating on the stock in a research note on Thursday. Wedbush decreased their price objective on Etsy from $70.00 to $65.00 and set a neutral rating on the stock in a report on Thursday. Piper Sandler boosted their price target 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 shares of Etsy from a buy rating to a neutral rating and lowered their price objective for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Finally, Loop Capital lowered shares of 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 report on Thursday. Four research 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 data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $79.96.

Etsy Trading Up 1.2 %

Shares of Etsy stock opened at $59.97 on Thursday. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81. The firm’s 50-day moving average price is $67.77 and its 200 day moving average price is $71.55. The firm has a market capitalization of $7.01 billion, a PE ratio of 27.38, a P/E/G ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, sell-side analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were 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 in the company, valued at approximately $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of the company’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 value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

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