Etsy (NASDAQ:ETSY) PT Lowered to $58.00

Etsy (NASDAQ:ETSY) had its price target cut by UBS Group from $65.00 to $58.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

ETSY has been the subject of several other research reports. The Goldman Sachs Group cut shares of Etsy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $70.00 to $45.00 in a report on Tuesday. Loop Capital decreased their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Wolfe Research began coverage on Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Evercore ISI raised Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.36.

Etsy Trading Up 1.6 %

Shares of ETSY stock opened at $51.56 on Tuesday. The company has a market cap of $6.03 billion, a P/E ratio of 23.54, a PEG ratio of 4.99 and a beta of 1.97. The firm has a fifty day moving average price of $53.46 and a 200 day moving average price of $59.33. Etsy has a 12 month low of $48.07 and a 12 month high of $89.58.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. On average, equities analysts forecast that Etsy will post 2.38 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,619 shares of company stock valued at $300,670 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 292 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy during the second quarter valued at $42,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

About Etsy

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.