Truist Financial Issues Positive Forecast for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSY - Free Report) had its price objective increased by Truist Financial from $55.00 to $60.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer's stock.

ETSY has been the subject of a number of other research reports. Morgan Stanley reduced their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. B. Riley cut their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group cut their target price on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Etsy and gave the company a "hold" rating in a research note on Monday, April 14th. Finally, Bank of America reduced their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $49.87.

Etsy Trading Up 1.4%

NASDAQ:ETSY traded up $0.77 during mid-day trading on Tuesday, hitting $55.30. The stock had a trading volume of 4,984,450 shares, compared to its average volume of 4,221,012. The company has a market capitalization of $5.77 billion, a PE ratio of 39.50, a PEG ratio of 3.01 and a beta of 1.80. The stock has a 50-day simple moving average of $49.74 and a two-hundred day simple moving average of $51.27. Etsy has a twelve month low of $40.05 and a twelve month high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Sell-side analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the completion of the sale, the insider now directly owns 33,322 shares in the company, valued at $1,435,178.54. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $28,593.60. This trade represents a 70.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,418 shares of company stock worth $11,234,192. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Etsy by 1,066.3% during the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after acquiring an additional 8,797 shares during the last quarter. DJE Kapital AG bought a new position in Etsy in the 4th quarter worth about $983,000. Charles Schwab Investment Management Inc. grew its holdings in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after buying an additional 122,126 shares in the last quarter. Brooklyn FI LLC bought a new position in shares of Etsy in the fourth quarter worth $5,229,000. Finally, JBGlobal.com LLC increased its stake in Etsy by 68.2% during the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock valued at $606,000 after buying an additional 5,206 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.