Etsy (NASDAQ:ETSY) Given New $60.00 Price Target at Barclays

Etsy (NASDAQ:ETSY) had its price objective reduced by research analysts at Barclays from $67.00 to $60.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price target would indicate a potential upside of 0.05% from the company’s current price.

A number of other brokerages have also commented on ETSY. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. Truist Financial decreased their target price on Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and lowered their target price for the company from $70.00 to $50.00 in a research note on Thursday. Needham & Company LLC cut their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley reissued an “underweight” rating and issued a $55.00 target price (down from $65.00) on shares of Etsy in a research report on Thursday, April 18th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.96.

Etsy Trading Up 1.2 %

ETSY traded up $0.73 on Thursday, hitting $59.97. 5,617,654 shares of the company’s stock were exchanged, compared to its average volume of 3,661,918. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81. The firm has a market cap of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00. The stock has a fifty day moving average of $67.77 and a two-hundred day moving average of $71.52.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. On average, analysts predict that Etsy will post 2.55 EPS for the current year.

Insider Activity at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Bares Capital Management Inc. boosted its stake in Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after acquiring an additional 1,480,655 shares during the last quarter. Norges Bank acquired a new position in shares of Etsy in the 4th quarter valued at $86,494,000. Van ECK Associates Corp boosted its position in shares of Etsy by 40.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after purchasing an additional 1,047,811 shares during the last quarter. TD Asset Management Inc increased its holdings in Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after purchasing an additional 952,907 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in Etsy by 84.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after buying an additional 599,286 shares during the period. 99.53% of the stock is owned by institutional investors.

About Etsy

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.