Etsy (NASDAQ:ETSY) PT Lowered to $78.00

Etsy (NASDAQ:ETSY) had its price target decreased by stock analysts at BTIG Research from $87.00 to $78.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. BTIG Research’s price objective indicates a potential upside of 30.07% from the stock’s previous close.

Several other research analysts also recently commented on ETSY. Evercore ISI lowered 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. Loop Capital cut Etsy from a “hold” rating to a “sell” rating and lowered their price target for the stock from $70.00 to $50.00 in a report on Thursday. Piper Sandler raised their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Oppenheimer lowered their target price on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Truist Financial reduced their price target on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.96.

Etsy Trading Up 1.2 %

NASDAQ ETSY traded up $0.73 during midday trading on Thursday, hitting $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The firm has a 50-day moving average price of $67.77 and a 200-day moving average price of $71.52. The company has a market capitalization 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 twelve month low of $56.60 and a twelve month high of $102.81.

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

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $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 company’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 value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ETSY. Arizona State Retirement System lifted its position in Etsy by 0.5% in the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after acquiring an additional 157 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Etsy by 3.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 161 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Etsy by 2.7% in the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock valued at $516,000 after purchasing an additional 168 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Etsy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after buying an additional 172 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Etsy by 0.9% during the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock worth $1,587,000 after buying an additional 184 shares in the last quarter. 99.53% of the stock is 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.