Etsy (NASDAQ:ETSY) Price Target Raised to $62.00 at UBS Group

Etsy (NASDAQ:ETSY) had its price objective hoisted by UBS Group from $45.00 to $62.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other brokerages also recently weighed in on ETSY. B. Riley cut their price objective on Etsy from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley raised shares of Etsy from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $38.00 to $50.00 in a report on Monday. Citigroup cut their target price on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald increased their price target on Etsy from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Canaccord Genuity Group lowered their target price on Etsy from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.13.

Etsy Trading Up 1.3%

Shares of ETSY opened at $60.41 on Monday. Etsy has a 12-month low of $40.05 and a 12-month high of $66.18. The firm has a fifty day moving average price of $54.03 and a 200-day moving average price of $50.88. The firm has a market capitalization of $6.30 billion, a P/E ratio of 43.15, a P/E/G ratio of 3.28 and a beta of 1.74.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter last year, the business earned $0.48 EPS. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 151,666 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the completion of the transaction, the chief executive officer directly owned 107,809 shares in the company, valued at $6,218,423.12. This represents a 58.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the transaction, the chief technology officer directly owned 2,896 shares in the company, valued at $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,298 shares of company stock valued at $11,156,039. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. 111 Capital raised its holdings in shares of Etsy by 44.2% in the second quarter. 111 Capital now owns 6,224 shares of the specialty retailer’s stock worth $312,000 after acquiring an additional 1,907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Etsy by 27.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,299 shares of the specialty retailer’s stock worth $65,000 after acquiring an additional 280 shares in the last quarter. Signaturefd LLC increased its position in Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Etsy by 48.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 6,509 shares of the specialty retailer’s stock worth $326,000 after purchasing an additional 2,118 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Etsy in the 2nd quarter valued at approximately $236,000. Institutional investors and hedge funds 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.