Etsy (NASDAQ:ETSY) PT Lowered to $105.00

Etsy (NASDAQ:ETSY) had its price target decreased by Canaccord Genuity Group from $125.00 to $105.00 in a report released on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer’s stock.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Etsy from $80.00 to $65.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Morgan Stanley dropped their target price on Etsy from $55.00 to $52.00 and set an underweight rating on the stock in a report on Thursday. 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. Evercore ISI dropped their price objective on Etsy from $95.00 to $90.00 and set an outperform rating on the stock in a report on Thursday, February 22nd. Finally, B. Riley dropped their price objective on Etsy from $91.00 to $83.00 and set a buy rating on the stock in a report on Thursday. Four equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $79.96.

Etsy Trading Up 1.2 %

Shares of Etsy stock traded up $0.73 during trading hours on Thursday, reaching $59.97. The stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The firm has a 50 day simple moving average of $67.77 and a two-hundred day simple moving average of $71.52. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 27.38, a P/E/G 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.

Etsy (NASDAQ:ETSY) last announced its 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 company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Sell-side analysts forecast that Etsy will post 2.55 EPS for the current year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business’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 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 sold 66,968 shares of company stock worth $4,836,827 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of ETSY. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Etsy by 27.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock worth $2,913,000 after buying an additional 9,800 shares in the last quarter. Xponance Inc. raised its position in shares of Etsy by 8.1% during the third quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock worth $1,670,000 after purchasing an additional 1,946 shares during the period. Raymond James & Associates raised its position in shares of Etsy by 2.0% during the third quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after purchasing an additional 2,204 shares during the period. Rovin Capital UT ADV raised its position in shares of Etsy by 28.6% during the third quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 1,218 shares during the period. Finally, Concord Wealth Partners raised its position in shares of Etsy by 9,333.3% during the third quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,960 shares during the period. 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.