Etsy (NASDAQ:ETSY) PT Lowered to $56.00 at Wells Fargo & Company

Etsy (NASDAQ:ETSY) had its target price cut by Wells Fargo & Company from $58.00 to $56.00 in a research report released on Tuesday, Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial cut their price objective on Etsy from $85.00 to $75.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Barclays lowered their price objective on shares of Etsy from $67.00 to $60.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. BTIG Research cut their target price on shares of Etsy from $87.00 to $78.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. JMP Securities cut shares of Etsy from an outperform rating to a market perform rating in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a hold rating on the stock in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of Hold and an average price target of $79.88.

Etsy Price Performance

Shares of ETSY stock opened at $58.98 on Tuesday. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The firm has a market cap of $6.90 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 4.85 and a beta of 1.99. The company has a 50-day moving average of $62.93 and a two-hundred day moving average of $69.40.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Sell-side analysts anticipate that Etsy will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The disclosure for this sale can be found here. Insiders have sold 3,865 shares of company stock worth $253,031 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after buying an additional 91,900 shares during the last quarter. Capital International Investors raised its stake in Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after acquiring an additional 45,305 shares during the last quarter. Van ECK Associates Corp raised its stake in Etsy by 9.2% during the 1st quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after acquiring an additional 425,620 shares during the last quarter. Bares Capital Management Inc. lifted its position in Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after acquiring an additional 36,623 shares during the period. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Etsy by 2.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares during the period. 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.