Etsy (NASDAQ:ETSY) Price Target Lowered to $40.00 at Piper Sandler

Etsy (NASDAQ:ETSY) had its target price decreased by Piper Sandler from $52.00 to $40.00 in a research note released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the specialty retailer’s stock.

A number of other research analysts also recently commented on ETSY. Bank of America cut their target price on shares of Etsy from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus dropped their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Truist Financial reduced their price target on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup reduced their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, UBS Group lowered their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $56.71.

Etsy Trading Up 0.0 %

Shares of ETSY opened at $43.60 on Friday. The firm has a fifty day moving average price of $48.78 and a 200-day moving average price of $51.86. The firm has a market capitalization of $4.67 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy has a 12-month low of $40.05 and a 12-month high of $71.72.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares in the company, valued at approximately $1,534,582.14. This trade represents a 40.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,952 shares of company stock valued at $2,554,620. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in the company. Lmcg Investments LLC lifted its holdings in Etsy by 56.2% in the 1st quarter. Lmcg Investments LLC now owns 42,386 shares of the specialty retailer’s stock valued at $2,000,000 after purchasing an additional 15,254 shares in the last quarter. JBGlobal.com LLC raised its position in shares of Etsy by 68.2% in the first quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer’s stock valued at $606,000 after buying an additional 5,206 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Etsy by 676.5% in the first quarter. Merit Financial Group LLC now owns 29,934 shares of the specialty retailer’s stock worth $1,412,000 after buying an additional 26,079 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in Etsy by 23.2% during the first quarter. 180 Wealth Advisors LLC now owns 11,823 shares of the specialty retailer’s stock worth $558,000 after acquiring an additional 2,229 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Etsy by 6,477.2% during the first quarter. GAMMA Investing LLC now owns 90,963 shares of the specialty retailer’s stock worth $4,292,000 after acquiring an additional 89,580 shares during the last quarter. 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.