Etsy’s (ETSY) Underweight Rating Reaffirmed at Morgan Stanley

Etsy (NASDAQ:ETSY)‘s stock had its “underweight” rating restated by equities researchers at Morgan Stanley in a report issued on Thursday, Marketbeat reports. They currently have a $55.00 price target on the specialty retailer’s stock, down from their prior price target of $65.00. Morgan Stanley’s target price would suggest a potential downside of 18.51% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Evercore ISI lowered their target price on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Wedbush decreased their price target on shares of Etsy from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group cut shares of Etsy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $84.00 to $80.00 in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $87.48.

Etsy Trading Down 1.3 %

Shares of NASDAQ:ETSY opened at $67.49 on Thursday. Etsy has a 12 month low of $58.20 and a 12 month high of $104.93. The company has a 50-day moving average price of $70.04 and a 200 day moving average price of $71.36. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 4.77 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. As a group, equities analysts forecast that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in the stock. ICA Group Wealth Management LLC bought a new position in Etsy during the fourth quarter valued at approximately $28,000. Quarry LP raised its position in Etsy by 121.7% during the first quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 146 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in Etsy during the second quarter valued at approximately $25,000. CVA Family Office LLC bought a new position in Etsy during the fourth quarter valued at approximately $27,000. Finally, Altshuler Shaham Ltd bought a new position in Etsy during the fourth quarter valued at approximately $41,000. 99.53% of the stock is owned by hedge funds and other 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.