Etsy (NASDAQ:ETSY) PT Lowered to $60.00

Etsy (NASDAQ:ETSY) had its target price decreased by research analysts at Barclays from $67.00 to $60.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s target price indicates a potential upside of 0.05% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BTIG Research dropped their price objective on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Evercore ISI reduced their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective 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. The Goldman Sachs Group downgraded shares of Etsy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th. Finally, Morgan Stanley reissued an “underweight” rating and set a $55.00 price target (down from $65.00) on shares of Etsy in a report on Thursday, April 18th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.96.

Etsy Price Performance

ETSY stock traded up $0.73 during trading on Thursday, hitting $59.97. 5,617,654 shares of the stock traded hands, compared to its average volume of 3,661,918. The stock has a market cap 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 has a 1 year low of $56.60 and a 1 year high of $102.81. The firm’s 50 day moving average is $67.77 and its two-hundred day moving average is $71.52.

Etsy (NASDAQ:ETSY) last announced 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 firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the business earned $0.53 EPS. Etsy’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate 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 the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Merilee Buckley sold 1,671 shares of the 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 sale, the chief accounting officer now directly 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 at this link. Also, insider Nicholas Daniel sold 1,500 shares of the 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 completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock worth $4,836,827 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in Etsy in the 4th quarter worth about $27,000. Operose Advisors LLC purchased a new stake in shares of Etsy in the third quarter valued at approximately $28,000. Sunbelt Securities Inc. grew its stake in Etsy by 3,900.0% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the period. Finally, Larson Financial Group LLC raised its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Hedge funds and other 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.