Etsy (NASDAQ:ETSY) PT Lowered to $70.00

Etsy (NASDAQ:ETSY - Free Report) had its price target reduced by Wedbush from $80.00 to $70.00 in a research note released on Wednesday, MarketBeat.com reports. Wedbush currently has a neutral rating on the specialty retailer's stock.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their target price on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company decreased their target price on shares of Etsy from $62.00 to $60.00 and set an underweight rating for the company in a report on Thursday, April 4th. Barclays raised their target price on shares of Etsy from $63.00 to $67.00 and gave the stock an equal weight rating in a report on Thursday, February 22nd. Evercore ISI decreased their target price on shares of Etsy from $95.00 to $90.00 and set an outperform rating for the company in a report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Etsy from $80.00 to $65.00 and set a hold rating for the company in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Etsy currently has an average rating of Hold and an average target price of $84.46.

Etsy Price Performance

Shares of ETSY traded down $1.48 during trading hours on Wednesday, hitting $66.87. 2,640,895 shares of the company were exchanged, compared to its average volume of 3,704,816. The company has a market capitalization of $7.92 billion, a PE ratio of 29.85, a PEG ratio of 4.62 and a beta of 2.01. The firm has a fifty day simple moving average of $69.30 and a 200-day simple moving average of $71.53. Etsy has a one year low of $58.20 and a one year high of $102.81.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Sell-side analysts expect that Etsy will post 2.58 EPS for the current year.

Insider Activity

In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares of the company's stock, valued at $183,868.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares of the company's stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of ETSY. CVA Family Office LLC acquired a new stake in shares of Etsy in the fourth quarter worth $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy in the third quarter worth $28,000. Sunbelt Securities Inc. boosted its stake in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer's stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer's stock worth $36,000 after buying an additional 358 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in Etsy during the fourth quarter worth $41,000. Institutional investors and hedge funds 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.