Etsy (NYSE:ETSY) Price Target Raised to $80.00

Etsy (NYSE:ETSY) had its price target lifted by stock analysts at Jefferies Financial Group from $62.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential downside of 0.68% from the company’s current price.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company increased their target price on shares of Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. President Capital raised shares of Etsy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $91.00 in a research report on Thursday, June 25th. Roth Capital assumed coverage on shares of Etsy in a research note on Thursday, May 21st. They set a “buy” rating for the company. Truist Financial increased their price objective on shares of Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.80.

Etsy Stock Down 0.6%

NYSE:ETSY opened at $80.55 on Tuesday. The company has a market cap of $7.64 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 3.37 and a beta of 1.83. Etsy has a twelve month low of $44.00 and a twelve month high of $81.92. The business has a 50 day moving average price of $69.12 and a two-hundred day moving average price of $60.44.

Insiders Place Their Bets

In other Etsy news, insider Josh Silverman sold 134,730 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the sale, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 744,447 shares of company stock worth $52,139,342 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ETSY. Lone Pine Capital LLC bought a new position in Etsy during the third quarter worth about $257,614,000. SG Americas Securities LLC lifted its position in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after buying an additional 1,314,071 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after acquiring an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after acquiring an additional 1,112,520 shares during the period. Finally, Norges Bank acquired a new position in shares of Etsy during the 4th quarter worth approximately $33,903,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.