Etsy (NASDAQ:ETSY) PT Set at $41.00 by Wells Fargo & Company

Wells Fargo & Company set a $41.00 price objective on Etsy (NASDAQ:ETSY - Free Report) in a research note released on Monday morning, Marketbeat.com reports. The firm currently has an underweight rating on the specialty retailer's stock.

Other equities analysts have also issued reports about the stock. Bank of America cut their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. B. Riley dropped their target price on Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their target price on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price target for the company. in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Etsy from $42.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $49.91.

Etsy Stock Performance

ETSY stock traded up $1.44 during trading on Monday, reaching $54.40. 4,307,775 shares of the company traded hands, compared to its average volume of 4,308,567. The business has a 50 day simple moving average of $51.46 and a 200 day simple moving average of $50.90. Etsy has a 12 month low of $40.05 and a 12 month high of $66.81. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.91 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. As a group, research analysts forecast that Etsy will post 2.57 EPS for the current year.

Insider Activity

In related news, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer directly owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This represents a 44.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total transaction of $77,040.00. Following the sale, the insider owned 34,683 shares in the company, valued at approximately $1,781,318.88. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,298 shares of company stock valued at $11,156,039 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Large investors have recently bought and sold shares of the business. Kera Capital Partners Inc. boosted its position in Etsy by 92.5% during the second quarter. Kera Capital Partners Inc. now owns 9,442 shares of the specialty retailer's stock worth $474,000 after purchasing an additional 4,538 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Etsy by 112.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after buying an additional 1,486,142 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Etsy by 10.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,343 shares of the specialty retailer's stock valued at $205,000 after acquiring an additional 412 shares during the period. Bayforest Capital Ltd increased its holdings in Etsy by 396.3% in the 1st quarter. Bayforest Capital Ltd now owns 4,283 shares of the specialty retailer's stock worth $202,000 after acquiring an additional 3,420 shares in the last quarter. Finally, Optimize Financial Inc raised its position in Etsy by 49.0% during the first quarter. Optimize Financial Inc now owns 14,756 shares of the specialty retailer's stock worth $696,000 after acquiring an additional 4,850 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

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.