Etsy (NASDAQ:ETSY) Given New $70.00 Price Target at The Goldman Sachs Group

Etsy (NASDAQ:ETSY) had its target price trimmed by The Goldman Sachs Group from $80.00 to $70.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

ETSY has been the topic of several other research reports. BTIG Research reduced their price target on shares of Etsy from $90.00 to $87.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Loop Capital downgraded Etsy from a hold rating to a sell rating and reduced their price objective for the company from $70.00 to $50.00 in a research report on Thursday. Evercore ISI dropped their price objective on Etsy from $95.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Truist Financial reduced their target price on shares of Etsy from $85.00 to $75.00 and set a buy rating on the stock in a report on Thursday. Finally, Barclays reduced their price objective on shares of Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $79.96.

Etsy Stock Performance

Shares of ETSY opened at $59.97 on Thursday. Etsy has a fifty-two week low of $56.60 and a fifty-two week high of $102.81. The firm has a 50-day simple moving average of $67.77 and a 200-day simple moving average of $71.55. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 67.27% and a net margin of 10.75%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Etsy will post 2.57 EPS for the current year.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock worth $4,836,827 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently modified their holdings of the stock. Bares Capital Management Inc. lifted its stake in shares of Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after purchasing an additional 1,480,655 shares during the last quarter. Norges Bank acquired a new stake in Etsy in the 4th quarter worth approximately $86,494,000. Van ECK Associates Corp boosted its position in Etsy by 40.3% during the third 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 period. TD Asset Management Inc grew its holdings in Etsy by 260.2% during 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. raised its position in shares of 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 purchasing an additional 599,286 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.