Etsy (NASDAQ:ETSY) Price Target Cut to $45.00

Etsy (NASDAQ:ETSY) had its target price reduced by Loop Capital from $50.00 to $45.00 in a report published on Monday morning, Benzinga reports. They currently have a sell rating on the specialty retailer’s stock.

Several other research firms have also recently weighed in on ETSY. Oppenheimer cut shares of Etsy from an outperform rating to a market perform rating in a report on Thursday, August 1st. Wedbush restated a neutral rating and set a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Truist Financial cut their price target on shares of Etsy from $77.00 to $76.00 and set a buy rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus dropped their target price on shares of Etsy from $65.00 to $64.00 and set a hold rating on the stock in a research note on Thursday, August 1st. Finally, Evercore ISI upgraded shares of Etsy to a strong-buy rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Etsy currently has an average rating of Hold and a consensus target price of $73.68.

Etsy Price Performance

NASDAQ:ETSY opened at $51.50 on Monday. The firm has a 50-day moving average of $59.63 and a 200-day moving average of $65.09. The company has a market cap of $6.02 billion, a PE ratio of 23.52, a PEG ratio of 5.02 and a beta of 2.02. Etsy has a one year low of $51.45 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the firm earned $0.83 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Etsy will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 750 shares of the company’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 transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction 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 approximately $1,125,083.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,694 shares of company stock valued at $169,687. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors have recently made changes to their positions in the stock. Polen Capital Management LLC increased its holdings in shares of Etsy by 83.3% in the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after buying an additional 15,598 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Etsy by 23,542.9% in the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Etsy in the 4th quarter valued at $267,000. TD Asset Management Inc boosted its stake in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Etsy by 2.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

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.