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

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

ETSY has been the topic of a number of other reports. Piper Sandler lifted their price target on Etsy from $90.00 to $103.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Wedbush cut their price target on Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Needham & Company LLC cut their price target on Etsy from $95.00 to $75.00 and set a buy rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on Etsy from $80.00 to $65.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Finally, Loop Capital downgraded Etsy from a hold rating to a sell rating and cut their price target for the company from $70.00 to $50.00 in a report on Thursday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $79.96.

Etsy Stock Performance

NASDAQ ETSY traded up $0.73 on Thursday, reaching $59.97. 5,617,654 shares of the stock traded hands, compared to its average volume of 3,661,918. The company has a fifty day moving average price of $67.77 and a 200-day moving average price of $71.52. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 4.16 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 earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm earned $0.53 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Etsy will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock valued at $4,836,827 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently bought and sold shares of ETSY. CVA Family Office LLC purchased a new position in Etsy during the fourth quarter worth approximately $27,000. Operose Advisors LLC purchased a new position in Etsy during the third quarter worth approximately $28,000. Sunbelt Securities Inc. boosted its position in Etsy by 3,900.0% during 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 boosted its position in Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. Hedge funds and other 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.