Etsy (NASDAQ:ETSY) Price Target Raised to $41.00 at Wells Fargo & Company

Etsy (NASDAQ:ETSY - Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $40.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the specialty retailer's stock. Wells Fargo & Company's price target suggests a potential downside of 18.01% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley decreased their price target on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Piper Sandler reduced their price objective on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Finally, B. Riley lowered their price objective on Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. 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. According to MarketBeat, Etsy currently has a consensus rating of "Hold" and an average target price of $49.91.

Etsy Price Performance

Shares of ETSY traded down $0.64 during trading hours on Monday, hitting $50.01. The company's stock had a trading volume of 228,147 shares, compared to its average volume of 4,250,924. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.79 and a beta of 1.80. The business has a 50 day simple moving average of $51.09 and a two-hundred day simple moving average of $50.95. Etsy has a 52-week low of $40.05 and a 52-week high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm's quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $58.77, for a total transaction of $88,155.00. Following the completion of the transaction, the insider now directly owns 31,822 shares in the company, valued at approximately $1,870,178.94. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,418 shares of company stock valued at $11,234,192. Insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Etsy

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Etsy in the fourth quarter worth about $324,000. Los Angeles Capital Management LLC purchased a new stake in Etsy in the 4th quarter worth approximately $492,000. Proficio Capital Partners LLC bought a new stake in shares of Etsy in the 4th quarter worth approximately $604,000. Smartleaf Asset Management LLC increased its stake in shares of Etsy by 218.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,491 shares of the specialty retailer's stock valued at $80,000 after buying an additional 1,023 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Etsy during the fourth quarter valued at approximately $61,000. Institutional investors own 99.53% of the company's stock.

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.

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