Etsy (NASDAQ:ETSY) PT Lowered to $62.00 at Citigroup

Etsy (NASDAQ:ETSY) had its price target trimmed by Citigroup from $72.00 to $62.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Other research analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of Etsy from $67.00 to $60.00 and set an equal weight rating for the company in a report on Thursday. Needham & Company LLC lowered their price target on Etsy from $95.00 to $75.00 and set a buy rating on the stock in a report on Thursday. Morgan Stanley cut their price objective on Etsy from $55.00 to $52.00 and set an underweight rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on Etsy from $80.00 to $65.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Finally, JMP Securities lowered shares of Etsy from an outperform rating to a market perform rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Etsy has a consensus rating of Hold and an average target price of $79.96.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded up $0.73 during trading on Thursday, reaching $59.97. 5,617,654 shares of the stock traded hands, compared to its average volume of 3,661,918. The stock has a market cap of $7.02 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 4.22 and a beta of 2.00. Etsy has a 52-week low of $56.60 and a 52-week high of $102.81. The stock has a 50-day moving average of $67.77 and a two-hundred day moving average of $71.53.

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

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were 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 have sold a total of 66,968 shares of company stock worth $4,836,827 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently bought and sold shares of ETSY. Capital International Investors lifted its holdings in shares of 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 purchasing an additional 45,305 shares during the last quarter. Van ECK Associates Corp increased its position 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 buying an additional 425,620 shares in the last quarter. Bares Capital Management Inc. raised its stake in Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after buying an additional 36,623 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Etsy by 2.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after acquiring an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after acquiring an additional 952,907 shares in the last quarter. 99.53% of the stock is currently 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.