Etsy (NASDAQ:ETSY) PT Lowered to $75.00 at Truist Financial

Etsy (NASDAQ:ETSY) had its price target reduced by Truist Financial from $85.00 to $75.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company dropped their target price on Etsy from $60.00 to $58.00 and set an underweight rating on the stock in a report on Thursday. Barclays lifted their price objective on shares of Etsy from $63.00 to $67.00 and gave the stock an equal weight rating in a report on Thursday, February 22nd. Needham & Company LLC lowered their target price on shares of Etsy from $95.00 to $75.00 and set a buy rating for the company in a report on Thursday. BTIG Research cut their price target on shares of Etsy from $90.00 to $87.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Finally, UBS Group decreased their price objective on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $79.96.

Etsy Trading Up 1.2 %

NASDAQ ETSY opened at $59.97 on Thursday. The business’s 50-day moving average price is $67.77 and its two-hundred day moving average price is $71.55. The firm has a market capitalization of $7.01 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 4.73 and a beta of 2.00. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81.

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

Insider Activity

In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of 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, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction 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 transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ETSY. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after buying an additional 57,785 shares during the last quarter. Northern Trust Corp raised its stake in shares of Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after purchasing an additional 48,934 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Etsy during the fourth quarter valued at $2,273,000. International Assets Investment Management LLC purchased a new stake in shares of Etsy during the fourth quarter valued at $38,490,000. Finally, CVA Family Office LLC bought a new stake in Etsy in the 4th quarter worth about $27,000. Institutional investors own 99.53% of the company’s stock.

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.