Etsy (NASDAQ:ETSY) Price Target Raised to $53.00

Etsy (NASDAQ:ETSY - Free Report) had its target price boosted by JPMorgan Chase & Co. from $50.00 to $53.00 in a research report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty retailer's stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Evercore ISI cut their price objective on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Arete cut shares of Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price target for the company. in a research note on Wednesday, June 11th. Bank of America reduced their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group upped their price objective on Etsy from $45.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Etsy currently has an average rating of "Hold" and an average price target of $51.75.

Etsy Trading Up 5.4%

Shares of ETSY traded up $3.28 during trading hours on Tuesday, hitting $63.69. 7,326,226 shares of the stock traded hands, compared to its average volume of 4,374,206. The business has a fifty day moving average of $54.03 and a 200-day moving average of $50.88. The firm has a market capitalization of $6.64 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 3.32 and a beta of 1.74. Etsy has a 1-year low of $40.05 and a 1-year high of $66.18.

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

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the transaction, the insider directly owned 34,683 shares of the company's stock, valued at $1,781,318.88. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares in the company, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,298 shares of company stock valued at $11,156,039 in the last 90 days. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Signaturefd LLC boosted its holdings in shares of Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock worth $28,000 after purchasing an additional 192 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC acquired a new stake in Etsy during the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Etsy during the fourth quarter worth about $34,000. Finally, Allworth Financial LP boosted its holdings in Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 248 shares during the last quarter. 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.