Etsy (NASDAQ:ETSY) Given New $78.00 Price Target at BTIG Research

Etsy (NASDAQ:ETSY) had its price target cut by BTIG Research from $87.00 to $78.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI cut their price objective on shares of Etsy from $95.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Etsy from $80.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on shares of Etsy from $60.00 to $58.00 and set an underweight rating for the company in a research report on Thursday. UBS Group cut their price objective on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Finally, Oppenheimer cut their price objective on shares of Etsy from $95.00 to $80.00 and set an outperform rating for the company in a research report on Monday, April 29th. Four 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 MarketBeat.com, Etsy has a consensus rating of Hold and an average target price of $79.96.

Etsy Stock Up 1.2 %

Shares of Etsy stock traded up $0.73 during trading on Thursday, reaching $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The business’s 50-day moving average price is $67.77 and its 200-day moving average price is $71.52. The firm has a market cap of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00. Etsy has a 52 week low of $56.60 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Equities analysts predict that Etsy will post 2.55 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 approximately $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 approximately $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneva Capital Management LLC boosted its holdings in shares of Etsy by 2.8% during the 1st quarter. Geneva Capital Management LLC now owns 69,965 shares of the specialty retailer’s stock worth $4,808,000 after buying an additional 1,934 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Etsy by 120.7% in the 1st quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after purchasing an additional 431,993 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Etsy by 30.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer’s stock worth $344,000 after purchasing an additional 1,165 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Etsy by 79.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 3,122 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

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.