Etsy (NASDAQ:ETSY) PT Lowered to $76.00

Etsy (NASDAQ:ETSY) had its price objective decreased by Truist Financial from $77.00 to $76.00 in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

Other analysts have also issued reports about the company. BTIG Research dropped their target price on Etsy from $87.00 to $78.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group dropped their target price on Etsy from $125.00 to $105.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Barclays dropped their target price on Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Etsy from $80.00 to $65.00 and set a hold rating for the company in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group lowered their price objective on Etsy from $80.00 to $70.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $73.91.

Etsy Trading Down 6.6 %

Shares of Etsy stock opened at $55.41 on Thursday. Etsy has a twelve month low of $55.08 and a twelve month high of $89.58. The stock has a market capitalization of $6.48 billion, a P/E ratio of 27.10, a PEG ratio of 5.02 and a beta of 2.02. The business’s fifty day moving average price is $61.06 and its 200 day moving average price is $65.95.

Etsy (NASDAQ:ETSY) last issued 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 company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. As a group, sell-side analysts predict that Etsy will post 2.43 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Several large investors have recently added to or reduced their stakes in ETSY. Fifth Third Bancorp increased its stake in shares of Etsy by 5.2% in the fourth quarter. Fifth Third Bancorp now owns 6,041 shares of the specialty retailer’s stock worth $490,000 after acquiring an additional 297 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Etsy in the fourth quarter worth $543,000. Ballentine Partners LLC acquired a new position in shares of Etsy in the fourth quarter worth $263,000. Arizona State Retirement System increased its stake in shares of Etsy by 0.5% in the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after acquiring an additional 157 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Etsy in the fourth quarter worth $38,490,000. 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.