Etsy (NASDAQ:ETSY) PT Lowered to $58.00 at Wells Fargo & Company

Etsy (NASDAQ:ETSY) had its price target lowered by Wells Fargo & Company from $60.00 to $58.00 in a report issued on Thursday, Benzinga reports. The firm currently has an underweight rating on the specialty retailer’s stock.

A number of other research analysts have also commented on ETSY. Truist Financial cut their price objective 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. Piper Sandler upped their target price 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 for the company in a research note on Wednesday, April 10th. UBS Group lowered their target price on shares of Etsy from $75.00 to $72.00 and set a neutral rating on the stock in a research note on Thursday, February 22nd. Finally, Morgan Stanley restated an underweight rating and set a $55.00 price target (down previously from $65.00) on shares of Etsy in a research note on Thursday, April 18th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $79.96.

Etsy Trading Up 1.2 %

Shares of Etsy stock opened at $59.97 on Thursday. The firm has a fifty day simple moving average of $67.77 and a 200-day simple moving average of $71.55. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 4.73 and a beta of 2.00. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81.

Etsy (NASDAQ:ETSY) last released 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 negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up .8% on a year-over-year basis. As a group, research analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In related 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 completion of the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at $943,571.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on 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 sale, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ETSY. Fjarde AP Fonden Fourth Swedish National Pension Fund raised 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 worth $2,913,000 after purchasing an additional 9,800 shares in the last quarter. Xponance Inc. grew its position in shares of Etsy by 8.1% in the 3rd quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock valued at $1,670,000 after acquiring an additional 1,946 shares during the period. Raymond James & Associates increased its stake in shares of Etsy by 2.0% during the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after purchasing an additional 2,204 shares during the last quarter. Rovin Capital UT ADV raised its holdings 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 valued at $354,000 after purchasing an additional 1,218 shares during the period. Finally, Concord Wealth Partners grew its holdings in Etsy by 9,333.3% during the third quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,960 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

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.