Barclays Trims Etsy (NASDAQ:ETSY) Target Price to $60.00

Etsy (NASDAQ:ETSY) had its target price lowered by Barclays from $67.00 to $60.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the specialty retailer’s stock.

Several other analysts have also recently issued reports on ETSY. Oppenheimer cut their target price on Etsy from $95.00 to $80.00 and set an outperform rating for the company in a research report on Monday, April 29th. Truist Financial reduced their price objective on shares of Etsy from $85.00 to $75.00 and set a buy rating on the stock in a research report on Thursday. Needham & Company LLC lowered their target price on shares of Etsy from $95.00 to $75.00 and set a buy rating on the stock in a report on Thursday. Loop Capital cut shares of Etsy from a hold rating to a sell rating and cut their target price for the company from $70.00 to $50.00 in a research note on Thursday. Finally, Wedbush reduced their target price on Etsy from $70.00 to $65.00 and set a neutral rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Etsy presently has a consensus rating of Hold and an average target price of $79.96.

Etsy Stock Up 1.2 %

NASDAQ:ETSY traded up $0.73 on Thursday, hitting $59.97. The stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The business’s 50-day simple moving average is $67.77 and its two-hundred day simple moving average is $71.53. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.22 and a beta of 2.00. Etsy has a 52-week low of $56.60 and a 52-week high of $102.81.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of Etsy 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 sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several large investors have recently made changes to their positions in ETSY. Connor Clark & Lunn Investment Management Ltd. grew its stake in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock valued at $19,977,000 after acquiring an additional 57,785 shares during the period. Northern Trust Corp increased its stake in shares of Etsy by 4.3% during the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after purchasing an additional 48,934 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Etsy during the fourth quarter worth about $2,273,000. International Assets Investment Management LLC purchased a new position in Etsy in the 4th quarter valued at about $38,490,000. Finally, CVA Family Office LLC acquired a new stake in Etsy in the 4th quarter worth about $27,000. 99.53% of the stock is owned by hedge funds and other 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.