Etsy (NYSE:ETSY) Price Target Raised to $59.00 at Cantor Fitzgerald

Etsy (NYSE:ETSY) had its target price hoisted by Cantor Fitzgerald from $51.00 to $59.00 in a report published on Tuesday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on ETSY. JPMorgan Chase & Co. lowered their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Citigroup reaffirmed a “buy” rating on shares of Etsy in a research note on Tuesday, December 30th. Needham & Company LLC lowered their price objective on shares of Etsy from $76.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Canaccord Genuity Group lowered their price objective on shares of Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.00.

Etsy Trading Up 1.5%

NYSE ETSY opened at $65.13 on Tuesday. The business has a 50-day moving average of $52.83. The company has a market capitalization of $6.27 billion, a PE ratio of 49.72, a PEG ratio of 4.61 and a beta of 1.77. Etsy has a 12 month low of $41.51 and a 12 month high of $76.51.

Etsy (NYSE:ETSY) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. Research analysts forecast that Etsy will post 3.62 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, Director Charles Andrew Ballard sold 1,790 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $55.74, for a total transaction of $99,774.60. Following the completion of the sale, the director directly owned 4,006 shares of the company’s stock, valued at approximately $223,294.44. This represents a 30.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Josh Silverman sold 30,369 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $64.00, for a total transaction of $1,943,616.00. Following the sale, the insider directly owned 130,694 shares of the company’s stock, valued at approximately $8,364,416. The trade was a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 98,636 shares of company stock valued at $5,703,703 over the last three months. 2.80% of the stock is owned by company insiders.

Institutional Trading of Etsy

Several hedge funds have recently modified their holdings of the company. Aaron Wealth Advisors LLC lifted its position in shares of Etsy by 30.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,144 shares of the company’s stock valued at $307,000 after buying an additional 1,438 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Etsy during the first quarter valued at about $2,189,000. Cardinal Point Capital Management ULC lifted its position in shares of Etsy by 66.0% during the first quarter. Cardinal Point Capital Management ULC now owns 7,735 shares of the company’s stock valued at $387,000 after buying an additional 3,075 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Etsy by 717.7% during the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after buying an additional 1,314,071 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.