Etsy (NASDAQ:ETSY) Price Target Cut to $62.00

Etsy (NASDAQ:ETSY) had its price target trimmed by Citigroup from $72.00 to $62.00 in a report issued on Thursday, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

Other research analysts have also recently issued reports about the stock. Barclays cut their price target on shares of Etsy from $67.00 to $60.00 and set an equal weight rating for the company in a report on Thursday. Evercore ISI reduced their target price on Etsy from $95.00 to $90.00 and set an outperform rating for the company in a report on Thursday, February 22nd. BTIG Research lowered their price target on shares of Etsy from $87.00 to $78.00 and set a buy rating on the stock in a research note on Thursday. UBS Group decreased their price objective on shares of Etsy from $75.00 to $72.00 and set a neutral rating on the stock in a report on Thursday, February 22nd. Finally, B. Riley dropped their target price on shares of Etsy from $91.00 to $83.00 and set a buy rating for the company in a report on Thursday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of Hold and an average target price of $79.96.

Etsy Trading Up 1.2 %

NASDAQ:ETSY traded up $0.73 during mid-day trading on Thursday, hitting $59.97. The stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81. The company has a market capitalization of $7.02 billion, a PE ratio of 27.38, a PEG ratio of 4.22 and a beta of 2.00. The stock has a 50-day simple moving average of $67.77 and a two-hundred day simple moving average of $71.53.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Sell-side analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was 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 in the company, valued at approximately $1,677,650. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value 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 approximately $1,677,650. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock worth $4,836,827 over the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. CVA Family Office LLC bought a new stake in shares of Etsy in the 4th quarter worth about $27,000. Operose Advisors LLC bought a new position in Etsy in the third quarter worth about $28,000. Sunbelt Securities Inc. boosted its stake in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the period. 99.53% of the stock is currently 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.