Etsy (NASDAQ:ETSY) Downgraded to Sell at Loop Capital

Etsy (NASDAQ:ETSY) was downgraded by investment analysts at Loop Capital from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. They presently have a $50.00 target price on the specialty retailer’s stock, down from their prior target price of $70.00. Loop Capital’s price objective suggests a potential downside of 28.31% from the company’s current price.

A number of other research firms also recently issued reports on ETSY. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Etsy in a report on Friday, March 1st. 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. Barclays upped their price objective on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Wedbush decreased their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, BTIG Research dropped their price target on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.21.

Etsy Stock Up 1.6 %

Etsy stock opened at $69.74 on Thursday. The stock has a market cap of $8.16 billion, a P/E ratio of 31.13, a P/E/G ratio of 4.81 and a beta of 2.00. The company’s 50 day moving average price is $68.42 and its two-hundred day moving average price is $71.66. Etsy has a 52 week low of $58.20 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, equities analysts anticipate that Etsy will post 2.56 EPS for the current year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the firm’s 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 transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC bought a new stake in Etsy in the fourth quarter valued at approximately $27,000. Operose Advisors LLC bought a new stake in Etsy during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. boosted its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 358 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Etsy in the fourth quarter valued at about $41,000. 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.