Etsy (NASDAQ:ETSY) Given New $70.00 Price Target at Wedbush

Etsy (NASDAQ:ETSY) had its price objective lowered by Wedbush from $80.00 to $70.00 in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

ETSY has been the subject of several other reports. The Goldman Sachs Group downgraded Etsy from a buy rating to a neutral rating and decreased their price target for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Barclays increased their price target on Etsy from $63.00 to $67.00 and gave the stock an equal weight rating in a report on Thursday, February 22nd. Truist Financial decreased their price target on Etsy from $87.00 to $85.00 and set a buy rating for the company in a report on Thursday, February 22nd. BTIG Research cut their price objective on Etsy from $90.00 to $87.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of Hold and a consensus price target of $84.46.

Etsy Trading Up 0.3 %

ETSY stock opened at $67.43 on Wednesday. The company has a market capitalization of $7.89 billion, a P/E ratio of 30.10, a PEG ratio of 4.68 and a beta of 2.01. Etsy has a twelve month low of $58.20 and a twelve month high of $102.81. The business has a 50 day simple moving average of $68.72 and a 200-day simple moving average of $71.49.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Research analysts predict that Etsy will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of Etsy 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 completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Etsy 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 value of $107,730.00. Following the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

A number of hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC acquired a new position in shares of Etsy in the 4th quarter valued at about $27,000. Operose Advisors LLC acquired a new position in shares of Etsy in the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. lifted its stake in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Etsy in the 4th quarter valued at about $41,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.