Etsy (NASDAQ:ETSY) Given New $70.00 Price Target at Wedbush

Etsy (NASDAQ:ETSY) had its price objective cut by Wedbush from $80.00 to $70.00 in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other equities research analysts have also issued reports on ETSY. BTIG Research reduced their price objective on shares of Etsy from $90.00 to $87.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Needham & Company LLC reaffirmed a buy rating and issued a $95.00 price objective on shares of Etsy in a research note on Friday, March 1st. UBS Group cut their target price 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. Barclays boosted their target price on shares of Etsy from $63.00 to $67.00 and gave the stock an equal weight rating in a research report on Thursday, February 22nd. Finally, Truist Financial cut their target price on shares of Etsy from $87.00 to $85.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Etsy presently has a consensus rating of Hold and a consensus price target of $84.46.

Etsy Trading Down 2.2 %

ETSY stock opened at $66.87 on Wednesday. Etsy has a 1 year low of $58.20 and a 1 year high of $102.81. The company has a fifty day simple moving average of $69.30 and a 200 day simple moving average of $71.53. The firm has a market cap of $7.83 billion, a PE ratio of 29.85, a PEG ratio of 4.76 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. As a group, analysts forecast that Etsy will post 2.58 EPS for the current fiscal year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the company’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 sale, 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. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of Etsy

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors grew its stake in Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Etsy by 26.5% during the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares in the last quarter. Bares Capital Management Inc. lifted its position in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after purchasing an additional 36,623 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after purchasing an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 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.