Etsy (NASDAQ:ETSY) PT Lowered to $83.00 at B. Riley

Etsy (NASDAQ:ETSY) had its target price lowered by equities research analysts at B. Riley from $91.00 to $83.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. B. Riley’s price target suggests a potential upside of 41.01% from the company’s previous close.

A number of other research analysts have also weighed in on ETSY. Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Barclays decreased their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Thursday. Piper Sandler raised their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group cut their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $79.75.

Etsy Stock Performance

Shares of ETSY stock traded down $10.88 during mid-day trading on Thursday, reaching $58.86. 14,724,413 shares of the company’s stock traded hands, compared to its average volume of 3,803,430. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81. The firm has a 50 day moving average price of $68.28 and a two-hundred day moving average price of $71.65. The firm has a market capitalization of $6.89 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00.

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 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 negative return on equity of 70.75% and a net margin of 11.19%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. As a group, equities analysts expect that Etsy will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy news, 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 transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the transaction, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $27,000. Operose Advisors LLC purchased a new stake in Etsy in the third quarter valued at approximately $28,000. Sunbelt Securities Inc. grew its holdings in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in Etsy in the fourth quarter valued at approximately $41,000. 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.