Barclays Lowers Etsy (NASDAQ:ETSY) Price Target to $53.00

Etsy (NASDAQ:ETSY) had its price objective reduced by stock analysts at Barclays from $55.00 to $53.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price objective would indicate a potential upside of 24.68% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Truist Financial cut their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. UBS Group decreased their price target on Etsy from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Bank of America dropped their price objective on Etsy from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Canaccord Genuity Group reduced their target price on shares of Etsy from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald dropped their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average price target of $52.54.

Etsy Trading Down 2.2 %

Shares of ETSY stock opened at $42.51 on Wednesday. Etsy has a 12 month low of $40.05 and a 12 month high of $66.93. The company has a market capitalization of $4.47 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.57 and a beta of 2.15. The stock has a 50 day moving average of $46.05 and a two-hundred day moving average of $51.15.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts predict that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the transaction, the chief executive officer now directly owns 31,818 shares of the company’s stock, valued at approximately $1,534,582.14. The trade was a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,952 shares of company stock valued at $2,554,620. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after acquiring an additional 411,165 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Etsy by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer’s stock worth $2,594,000 after buying an additional 816 shares in the last quarter. Cooper Financial Group raised its position in Etsy by 4.7% in the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer’s stock valued at $764,000 after buying an additional 642 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Etsy in the 4th quarter valued at approximately $280,000. Institutional investors own 99.53% of the company’s stock.

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.