Etsy (NYSE:ETSY) Price Target Raised to $80.00

Etsy (NYSE:ETSY) had its price target upped by Jefferies Financial Group from $62.00 to $80.00 in a research note published on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

ETSY has been the subject of several other reports. Needham & Company LLC upped their price objective on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. UBS Group upgraded Etsy from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 21st. Bank of America boosted their target price on Etsy from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Raymond James Financial cut Etsy from an “outperform” rating to an “outperform” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company increased their price target on Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $73.64.

Etsy Stock Performance

Shares of ETSY opened at $83.40 on Tuesday. Etsy has a fifty-two week low of $44.00 and a fifty-two week high of $87.14. The firm has a 50-day simple moving average of $70.34 and a 200-day simple moving average of $61.03. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.83.

Insider Buying and Selling at Etsy

In other Etsy news, insider Josh Silverman sold 39,161 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $79.00, for a total transaction of $3,093,719.00. Following the transaction, the insider owned 139,884 shares in the company, valued at approximately $11,050,836. The trade was a 21.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total value of $1,487,800.00. Following the transaction, the director directly owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 759,312 shares of company stock valued at $53,799,597. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ETSY. EFG International AG acquired a new stake in Etsy in the fourth quarter valued at $33,000. Danske Bank A S acquired a new position in shares of Etsy during the 3rd quarter worth $66,000. CoreCap Advisors LLC grew its stake in shares of Etsy by 2,379.1% during the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after purchasing an additional 1,023 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Trending Headlines about Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: JPMorgan Chase & Co. raised its price target on Etsy to $85 from $78, signaling it still sees some room for upside despite keeping a neutral rating. Etsy (NYSE:ETSY) Price Target Raised to $85.00 at JPMorgan Chase & Co.
• Positive Sentiment: ETSY reached a new 1-year high after recent analyst upgrades, reflecting strong momentum in the shares. Etsy (NYSE:ETSY) Reaches New 1-Year High Following Analyst Upgrade
• Positive Sentiment: Brand-related coverage around Parker Posey’s Etsy-inspired napkins and party tips adds some positive publicity for the marketplace. Parker Posey Shares Unique Etsy Napkins and Party Tips Inspired by ‘White Lotus’

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.