Etsy (NASDAQ:ETSY) Receives Underweight Rating from Morgan Stanley

Etsy (NASDAQ:ETSY - Get Free Report)'s stock had its "underweight" rating reaffirmed by stock analysts at Morgan Stanley in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $55.00 target price on the specialty retailer's stock, down from their prior target price of $65.00. Morgan Stanley's target price indicates a potential downside of 18.32% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Etsy from $80.00 to $65.00 and set a "hold" rating for the company in a research report on Wednesday, April 10th. Barclays lifted their price target on shares of Etsy from $63.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday, February 22nd. Wells Fargo & Company reduced their price target on Etsy from $62.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, April 4th. BTIG Research dropped their price objective on Etsy from $90.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Finally, Wedbush cut their target price on Etsy from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $87.48.

Etsy Stock Performance

NASDAQ ETSY traded down $0.15 on Thursday, reaching $67.34. The company had a trading volume of 3,370,253 shares, compared to its average volume of 3,768,198. The company's fifty day moving average is $69.90 and its 200-day moving average is $71.33. Etsy has a 1-year low of $58.20 and a 1-year high of $104.93. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 4.77 and a beta of 2.01.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The business had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. On average, research analysts forecast that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business's stock in a transaction that occurred on Wednesday, April 3rd. The stock was 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 owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business's stock in a transaction that occurred on Wednesday, April 3rd. The stock was 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 owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of the business's 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 approximately $1,299,208.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Etsy

Large investors have recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Etsy in the fourth quarter valued at approximately $28,000. Quarry LP boosted its holdings in shares of Etsy by 121.7% in the first quarter. Quarry LP now owns 266 shares of the specialty retailer's stock valued at $30,000 after purchasing an additional 146 shares during the period. First Capital Advisors Group LLC. purchased a new stake in shares of Etsy in the second quarter valued at approximately $25,000. CVA Family Office LLC purchased a new stake in shares of Etsy in the fourth quarter valued at approximately $27,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Etsy in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors 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.