Etsy (NASDAQ:ETSY) PT Lowered to $62.00

Etsy (NASDAQ:ETSY) had its target price lowered by Citigroup from $72.00 to $62.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Several other research firms have also recently issued reports on ETSY. Canaccord Genuity Group decreased their price target on Etsy from $125.00 to $105.00 and set a buy rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a research note on Thursday. Morgan Stanley cut their target price on Etsy from $55.00 to $52.00 and set an underweight rating on the stock in a research note on Thursday. Barclays decreased their target price on Etsy from $67.00 to $60.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Truist Financial cut their price target on shares of Etsy from $85.00 to $75.00 and set a buy rating on the stock in a research report on Thursday. Four equities research 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. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $79.96.

Etsy Trading Up 1.2 %

Shares of ETSY stock opened at $59.97 on Thursday. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The firm’s 50 day moving average is $67.77 and its 200-day moving average is $71.55. The firm 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 (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, equities research analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, CAO Merilee Buckley sold 1,671 shares of the company’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 transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock worth $4,836,827 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently modified their holdings of ETSY. CVA Family Office LLC acquired a new position in Etsy in the 4th quarter valued at about $27,000. Operose Advisors LLC bought a new stake in Etsy in the 3rd quarter valued at $28,000. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Company Profile

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.