Etsy (NASDAQ:ETSY) Trading 3.9% Higher

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) shares were up 3.9% on Tuesday . The stock traded as high as $69.62 and last traded at $69.31. Approximately 1,687,575 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 3,762,767 shares. The stock had previously closed at $66.73.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Etsy from $90.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, February 22nd. Barclays lifted their price target on shares of Etsy from $63.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 22nd. Truist Financial lowered their price target on shares of Etsy from $87.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company lowered their price target on shares of Etsy from $62.00 to $60.00 and set an "underweight" rating for the company in a research report on Thursday, April 4th. Finally, Morgan Stanley lowered their price target on shares of Etsy from $66.00 to $64.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $87.84.

Etsy Price Performance

The stock's 50-day moving average price is $70.16 and its 200 day moving average price is $71.39. The firm has a market cap of $8.10 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 4.68 and a beta of 2.01.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts' consensus estimates of $0.78. The business 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 forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now directly owns 13,138 shares of the company's stock, valued at $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bares Capital Management Inc. grew its stake in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer's stock valued at $261,143,000 after acquiring an additional 1,480,655 shares in the last quarter. Norges Bank bought a new stake in Etsy during the fourth quarter worth about $86,494,000. Van ECK Associates Corp lifted its position in Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer's stock worth $235,666,000 after purchasing an additional 1,047,811 shares during the period. TD Asset Management Inc lifted its holdings in shares of Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer's stock worth $106,920,000 after acquiring an additional 952,907 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Etsy by 69.7% in the first quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer's stock worth $287,663,000 after acquiring an additional 950,415 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.