Etsy (NYSE:ETSY – Get Free Report) had its price objective decreased by investment analysts at Bank of America from $77.00 to $72.00 in a research note issued to investors on Wednesday,MarketScreener reports. Bank of America‘s price target would suggest a potential upside of 24.34% from the company’s previous close.
A number of other brokerages also recently commented on ETSY. Barclays lifted their target price on shares of Etsy from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group cut their target price on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Guggenheim upped their price target on Etsy from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Morgan Stanley set a $64.00 price objective on Etsy in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Etsy from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $70.91.
Check Out Our Latest Research Report on Etsy
Etsy Stock Performance
Etsy (NYSE:ETSY – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $881.64 million during the quarter. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%. On average, research analysts forecast that Etsy will post 3.74 earnings per share for the current year.
Insider Buying and Selling at Etsy
In other Etsy news, insider Josh Silverman sold 88,350 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at $8,387,940.92. This represents a 40.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $65.09, for a total transaction of $310,869.84. Following the completion of the transaction, the insider directly owned 6,503 shares of the company’s stock, valued at $423,280.27. This represents a 42.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 278,569 shares of company stock valued at $17,728,487 over the last three months. 2.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. EFG International AG acquired a new stake in Etsy in the 4th quarter valued at about $33,000. Abich Financial Wealth Management LLC acquired a new stake in Etsy in the third quarter valued at approximately $51,000. Blue Trust Inc. lifted its stake in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the last quarter. Danske Bank A S purchased a new position in Etsy in the third quarter worth approximately $66,000. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.
Etsy Company Profile
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.
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