Canaccord Genuity Group Trims Etsy (NASDAQ:ETSY) Target Price to $105.00

Etsy (NASDAQ:ETSY) had its price target reduced by Canaccord Genuity Group from $125.00 to $105.00 in a report released on Thursday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer’s stock.

Other research analysts also recently issued reports about the stock. Needham & Company LLC decreased their target price on shares of Etsy from $95.00 to $75.00 and set a buy rating for the company in a research report on Thursday. Truist Financial decreased their price target on Etsy from $85.00 to $75.00 and set a buy rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on Etsy from $60.00 to $58.00 and set an underweight rating for the company in a research note on Thursday. Finally, UBS Group cut their price target on Etsy from $75.00 to $72.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of Hold and a consensus target price of $79.96.

Etsy Trading Up 1.2 %

Shares of NASDAQ ETSY traded up $0.73 during trading hours on Thursday, reaching $59.97. The stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The business’s fifty day moving average price is $67.77 and its two-hundred day moving average price is $71.53. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 4.22 and a beta of 2.00. Etsy has a 52-week low of $56.60 and a 52-week high of $102.81.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities research analysts anticipate that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, CAO Merilee Buckley sold 1,671 shares of the 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the 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 transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Etsy

Several hedge funds have recently bought and sold shares of ETSY. Capital International Investors increased its stake in shares of Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after purchasing an additional 45,305 shares in the last quarter. Van ECK Associates Corp increased its position in Etsy by 9.2% during the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock worth $346,528,000 after buying an additional 425,620 shares in the last quarter. Bares Capital Management Inc. raised its holdings in shares of Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after acquiring an additional 36,623 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after acquiring an additional 30,561 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Etsy by 260.2% during the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. 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.