Etsy (NASDAQ:ETSY) PT Lowered to $58.00 at UBS Group

Etsy (NASDAQ:ETSY) had its price target lowered by equities research analysts at UBS Group from $65.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price objective points to a potential upside of 10.41% from the company’s previous close.

ETSY has been the topic of several other research reports. Wedbush reaffirmed a “neutral” rating and set a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Etsy in a report on Monday, October 7th. Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $76.00 price target on shares of Etsy in a report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $69.36.

Etsy Trading Up 2.4 %

Shares of ETSY opened at $52.53 on Tuesday. The business’s 50-day moving average price is $53.60 and its 200 day moving average price is $59.49. The stock has a market capitalization of $6.14 billion, a P/E ratio of 23.99, a P/E/G ratio of 4.99 and a beta of 1.97. Etsy has a 1-year low of $48.07 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same period last year, the firm earned $0.83 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that Etsy will post 2.38 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,619 shares of company stock worth $300,670 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Sunbelt Securities Inc. increased its position in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. UMB Bank n.a. increased its position in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC increased its position in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Etsy during the second quarter valued at approximately $42,000. Finally, Headlands Technologies LLC bought a new stake in shares of Etsy during the first quarter valued at approximately $59,000. 99.53% of the stock is currently 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.