Etsy (NASDAQ:ETSY) Price Target Cut to $146.00 by Analysts at DA Davidson

Etsy (NASDAQ:ETSYGet Rating) had its price target trimmed by DA Davidson from $185.00 to $146.00 in a research report sent to investors on Wednesday, The Fly reports.

Several other analysts have also recently issued reports on ETSY. Raymond James assumed coverage on shares of Etsy in a research report on Wednesday, June 29th. They set an outperform rating and a $100.00 price target on the stock. UBS Group reduced their price target on shares of Etsy from $180.00 to $90.00 and set a neutral rating on the stock in a research report on Friday, June 3rd. BTIG Research reduced their price target on shares of Etsy from $140.00 to $105.00 and set a buy rating on the stock in a research report on Tuesday, June 21st. Needham & Company LLC cut shares of Etsy from a buy rating to a hold rating in a research report on Monday, June 27th. Finally, Evercore ISI cut their target price on shares of Etsy from $130.00 to $95.00 and set an outperform rating on the stock in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Etsy presently has an average rating of Moderate Buy and a consensus target price of $132.55.

Etsy Trading Up 0.2 %

NASDAQ ETSY opened at $97.11 on Wednesday. The firm’s 50-day moving average is $80.85 and its two-hundred day moving average is $115.03. Etsy has a 12 month low of $67.01 and a 12 month high of $307.75. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $12.34 billion, a P/E ratio of 32.26, a PEG ratio of 1.88 and a beta of 1.74.

Etsy (NASDAQ:ETSYGet Rating) last posted its earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The company had revenue of $579.30 million for the quarter, compared to analysts’ expectations of $574.71 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. Etsy’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Etsy will post 2.04 earnings per share for the current year.

Insider Activity

In other news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $81.34, for a total value of $1,695,939.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at $8,354,187.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rachel C. Glaser sold 6,080 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $95.00, for a total value of $577,600.00. Following the completion of the sale, the chief financial officer now directly owns 42,709 shares of the company’s stock, valued at $4,057,355. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $81.34, for a total value of $1,695,939.00. Following the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at $8,354,187.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,418 shares of company stock valued at $11,096,245. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds have recently modified their holdings of the stock. Hartford Investment Management Co. lifted its holdings in shares of Etsy by 0.9% during the second quarter. Hartford Investment Management Co. now owns 12,071 shares of the specialty retailer’s stock worth $884,000 after purchasing an additional 111 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Etsy by 38.8% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 490 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 137 shares during the period. Rovin Capital UT ADV lifted its holdings in shares of Etsy by 192.5% during the second quarter. Rovin Capital UT ADV now owns 4,812 shares of the specialty retailer’s stock worth $352,000 after purchasing an additional 3,167 shares during the period. Lynch Asset Management Inc. lifted its holdings in shares of Etsy by 97.2% during the second quarter. Lynch Asset Management Inc. now owns 7,000 shares of the specialty retailer’s stock worth $513,000 after purchasing an additional 3,450 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in shares of Etsy by 5.8% during the second quarter. Wedbush Securities Inc. now owns 9,299 shares of the specialty retailer’s stock worth $681,000 after purchasing an additional 511 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

Etsy Company Profile

(Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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