Guggenheim Trims Etsy (NASDAQ:ETSY) Target Price to $80.00

Etsy (NASDAQ:ETSY) had its target price reduced by Guggenheim from $95.00 to $80.00 in a research report released on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the specialty retailer’s stock.

A number of other brokerages have also recently commented on ETSY. Oppenheimer dropped their target price on Etsy from $95.00 to $80.00 and set an outperform rating for the company in a report on Monday, April 29th. Barclays cut their price objective on shares of Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a research report on Thursday. Piper Sandler raised their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. B. Riley cut their price target on shares of Etsy from $91.00 to $83.00 and set a buy rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group decreased their price objective on shares of Etsy from $80.00 to $70.00 and set a neutral rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $79.96.

Etsy Trading Up 1.2 %

ETSY traded up $0.73 during trading on Thursday, hitting $59.97. 5,617,654 shares of the company traded hands, compared to its average volume of 3,661,918. The company has a market cap of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.22 and a beta of 2.00. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The stock’s 50-day simple moving average is $67.77 and its two-hundred day simple moving average is $71.53.

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 firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities analysts expect that Etsy will post 2.57 EPS for the current year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of Etsy 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 owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock valued at $4,836,827 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Etsy by 0.6% in the fourth 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 during the last quarter. Van ECK Associates Corp increased its holdings in Etsy by 9.2% in the 1st 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 during the period. Bares Capital Management Inc. raised its position in Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after buying an additional 36,623 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Etsy by 2.0% during the 4th 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 period. Finally, TD Asset Management Inc increased its stake in shares of Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after acquiring an additional 952,907 shares during the period. 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.