Wells Fargo & Company Raises Etsy (NASDAQ:ETSY) Price Target to $57.00

Key Points

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Etsy (NASDAQ:ETSY - Get Free Report) had its target price raised by research analysts at Wells Fargo & Company from $41.00 to $57.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the specialty retailer's stock. Wells Fargo & Company's price objective points to a potential upside of 0.82% from the stock's previous close.

A number of other research analysts have also recently commented on the stock. B. Riley reduced their price target on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Loop Capital dropped their price target on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their price target on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Citizens Jmp raised Etsy to a "hold" rating in a research note on Thursday, July 10th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $67.00 price target on shares of Etsy in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.60.

Etsy Stock Performance

NASDAQ ETSY traded down $5.44 during trading on Thursday, hitting $56.54. 3,456,965 shares of the company's stock traded hands, compared to its average volume of 4,787,679. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 3.29 and a beta of 1.74. Etsy has a 12-month low of $40.05 and a 12-month high of $68.45. The business has a 50 day moving average of $56.48 and a 200-day moving average of $51.38.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). The firm had revenue of $672.66 million during the quarter, compared to analysts' expectations of $645.16 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, analysts expect that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 140,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $65.00, for a total transaction of $9,100,000.00. Following the completion of the sale, the chief executive officer directly owned 62,674 shares in the company, valued at $4,073,810. The trade was a 69.08% decrease in their position. The transaction 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 that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the transaction, the chief technology officer directly owned 2,896 shares in the company, valued at approximately $136,140.96. This represents a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 319,132 shares of company stock worth $19,257,846. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETSY. Signaturefd LLC raised 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 acquiring an additional 192 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC purchased a new stake in Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the fourth quarter valued at about $34,000. Finally, Allworth Financial LP raised its stake in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.

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