Etsy (NASDAQ:ETSY) PT Lowered to $70.00

Etsy (NASDAQ:ETSY) had its price objective cut by The Goldman Sachs Group from $80.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.15% from the company’s current price.

Other equities analysts have also issued reports about the company. Piper Sandler boosted their price target on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Loop Capital lowered shares of Etsy from a “hold” rating to a “sell” rating and lowered their target price for the stock from $70.00 to $50.00 in a report on Thursday. Oppenheimer cut their price target on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Needham & Company LLC dropped their target price on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $80.96.

Etsy Price Performance

ETSY stock traded down $9.99 during trading on Thursday, reaching $59.75. 11,743,231 shares of the company were exchanged, compared to its average volume of 3,763,015. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 4.81 and a beta of 2.00. The company has a 50-day moving average of $68.28 and a two-hundred day moving average of $71.65.

Etsy (NASDAQ:ETSY) last posted 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 firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, analysts forecast that Etsy will post 2.56 EPS for the current year.

Insider Activity at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, 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 is available through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently bought and sold shares of ETSY. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Etsy by 27.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock valued at $2,913,000 after purchasing an additional 9,800 shares in the last quarter. Xponance Inc. increased its stake in shares of Etsy by 8.1% during the third quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock valued at $1,670,000 after purchasing an additional 1,946 shares in the last quarter. Raymond James & Associates lifted its holdings 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 valued at $7,140,000 after purchasing an additional 2,204 shares during the last quarter. Rovin Capital UT ADV boosted its position in shares of Etsy by 28.6% in the 3rd 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 in the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Etsy by 9,333.3% in the third quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after acquiring an additional 1,960 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other 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.