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

Etsy (NASDAQ:ETSY) had its price objective dropped by investment analysts at Loop Capital from $50.00 to $45.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “sell” rating on the specialty retailer’s stock. Loop Capital’s price target suggests a potential downside of 15.48% from the company’s current price.

ETSY has been the subject of several other research reports. Canaccord Genuity Group dropped their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Morgan Stanley reduced their price objective on Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price target on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Four equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.68.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $1.73 during trading on Monday, reaching $53.24. The stock had a trading volume of 1,963,610 shares, compared to its average volume of 3,628,591. Etsy has a 1-year low of $52.97 and a 1-year high of $89.58. The stock has a market cap of $6.23 billion, a PE ratio of 24.41, a PEG ratio of 5.02 and a beta of 2.02. The business has a fifty day moving average price of $60.35 and a 200-day moving average price of $65.41.

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

Insiders Place Their Bets

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 directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock worth $169,687 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds have recently added to or reduced their stakes in ETSY. Sunbelt Securities Inc. raised its holdings in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Etsy in the 2nd quarter valued at about $42,000. Finally, Principal Securities Inc. acquired a new stake in shares of Etsy during the 4th quarter worth about $47,000. 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.