Etsy (NASDAQ:ETSY) Given New $65.00 Price Target at JPMorgan Chase & Co.

Etsy (NASDAQ:ETSY) had its price objective boosted by JPMorgan Chase & Co. from $60.00 to $65.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays reaffirmed a “positive” rating and issued a $60.00 price objective (up from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on shares of Etsy from $57.00 to $58.00 and gave the company an “underweight” rating in a research report on Tuesday, October 7th. Truist Financial boosted their price objective on shares of Etsy from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. BTIG Research boosted their price target on shares of Etsy from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.35.

Etsy Trading Up 2.4%

ETSY opened at $70.41 on Monday. The stock has a market capitalization of $6.98 billion, a P/E ratio of 56.78, a P/E/G ratio of 10.65 and a beta of 1.85. Etsy has a 12 month low of $40.05 and a 12 month high of $76.51. The firm’s fifty day simple moving average is $62.35 and its 200 day simple moving average is $55.45.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). The company had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $70.19, for a total value of $1,520,736.54. Following the sale, the chief executive officer directly owned 62,674 shares of the company’s stock, valued at approximately $4,399,088.06. This represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the completion of the sale, the insider directly owned 31,683 shares in the company, valued at approximately $1,635,476.46. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 542,667 shares of company stock worth $35,462,857. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the company. Heritage Wealth Advisors raised its holdings in shares of Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 405 shares during the period. Signaturefd LLC raised its holdings in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 192 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Etsy in the 2nd quarter valued at about $35,000. SVB Wealth LLC bought a new stake in shares of Etsy in the 1st quarter valued at about $36,000. Finally, Allworth Financial LP raised its holdings in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 248 shares during the period. 99.53% of the stock is owned by institutional investors.

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.