Etsy (NASDAQ:ETSY) Price Target Cut to $65.00 by Analysts at Deutsche Bank Aktiengesellschaft

Etsy (NASDAQ:ETSY - Free Report) had its price target decreased by Deutsche Bank Aktiengesellschaft from $80.00 to $65.00 in a report released on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the specialty retailer's stock.

Other equities research analysts have also issued research reports about the company. Wolfe Research boosted their target price on Etsy from $76.00 to $100.00 and gave the company an outperform rating in a research note on Thursday, December 14th. Raymond James increased their price objective on Etsy from $70.00 to $90.00 and gave the company an outperform rating in a research note on Thursday, December 14th. Wells Fargo & Company decreased their target price on shares of Etsy from $62.00 to $60.00 and set an underweight rating on the stock in a research note on Thursday, April 4th. The Goldman Sachs Group cut shares of Etsy from a buy rating to a neutral rating and dropped their price target for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Finally, Guggenheim boosted their price objective on shares of Etsy from $75.00 to $95.00 and gave the company a buy rating in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $87.84.

Etsy Price Performance

NASDAQ ETSY traded down $0.98 on Wednesday, reaching $67.69. 2,556,230 shares of the company's stock traded hands, compared to its average volume of 3,860,437. The stock has a market cap of $8.02 billion, a PE ratio of 30.22, a P/E/G ratio of 4.57 and a beta of 2.01. Etsy has a 12 month low of $58.20 and a 12 month high of $105.29. The stock has a 50-day simple moving average of $70.68 and a 200 day simple moving average of $71.24.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. As a group, analysts anticipate that Etsy will post 2.6 EPS for the current year.

Insider Activity

In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company's stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Merilee Buckley sold 1,671 shares of the business's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,968 shares of company stock worth $4,836,827. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Vanguard Group Inc. lifted its holdings in shares of Etsy by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer's stock valued at $1,703,069,000 after buying an additional 118,034 shares during the period. Capital International Investors increased its position in Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer's stock valued at $662,605,000 after acquiring an additional 45,305 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Etsy by 26.5% in the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer's stock valued at $374,207,000 after acquiring an additional 967,777 shares during the period. Bares Capital Management Inc. boosted its position in Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer's stock worth $330,711,000 after purchasing an additional 36,623 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Etsy by 13.4% during the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer's stock valued at $429,669,000 after purchasing an additional 409,540 shares during the period. Hedge funds and other institutional investors 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.