Wells Fargo & Company Cuts Etsy (NASDAQ:ETSY) Price Target to $56.00

Etsy (NASDAQ:ETSY) had its price target decreased by Wells Fargo & Company from $58.00 to $56.00 in a report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the specialty retailer’s stock.

A number of other analysts have also issued reports on ETSY. Citigroup lowered their price target on Etsy from $72.00 to $62.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. JMP Securities lowered Etsy from an outperform rating to a market perform rating in a research note on Thursday, May 2nd. B. Riley lowered their price objective on Etsy from $91.00 to $83.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Truist Financial lowered their price objective on Etsy from $85.00 to $75.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Finally, Oppenheimer lowered their price objective on Etsy from $95.00 to $80.00 and set an outperform rating on the stock in a research note on Monday, April 29th. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $79.88.

Etsy Trading Down 1.3 %

Shares of ETSY opened at $58.72 on Tuesday. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81. The stock’s 50 day moving average is $63.08 and its two-hundred day moving average is $69.58. The firm has a market cap of $6.87 billion, a P/E ratio of 26.81, a PEG ratio of 4.85 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (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 analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Etsy will post 2.49 EPS for the current year.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following 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 available through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,865 shares of company stock worth $253,031. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Large investors have recently bought and sold shares of the stock. CVA Family Office LLC purchased a new stake in Etsy during the 4th quarter worth about $27,000. Operose Advisors LLC acquired a new position in shares of Etsy during the 3rd quarter worth about $28,000. Sunbelt Securities Inc. boosted its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 358 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Etsy during the 4th quarter worth about $41,000. Hedge funds and other institutional investors 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.