Etsy (NASDAQ:ETSY) Downgraded by Loop Capital

Loop Capital lowered shares of Etsy (NASDAQ:ETSY) from a hold rating to a sell rating in a research note released on Thursday, Marketbeat reports. They currently have $50.00 price target on the specialty retailer’s stock, down from their prior price target of $70.00.

Other analysts also recently issued reports about the company. UBS Group reduced their price objective on Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. Oppenheimer lowered their price objective on shares of Etsy from $95.00 to $80.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Etsy from $80.00 to $65.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Wedbush lowered their target price on shares of Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Finally, Piper Sandler increased their price target on shares of Etsy from $90.00 to $103.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Four research 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 data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $79.96.

Etsy Trading Up 1.2 %

Shares of NASDAQ:ETSY opened at $59.97 on Thursday. The firm has a 50 day simple moving average of $67.77 and a 200-day simple moving average of $71.55. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81. The company has a market capitalization 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 (NASDAQ:ETSY) last announced its 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 net margin of 10.75% and a negative return on equity of 67.27%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, equities research analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after purchasing an additional 57,785 shares during the period. Northern Trust Corp raised its holdings in Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after buying an additional 48,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Etsy during the fourth quarter valued at approximately $2,273,000. International Assets Investment Management LLC purchased a new stake in Etsy during the fourth quarter worth approximately $38,490,000. Finally, CVA Family Office LLC acquired a new stake in shares of Etsy in the fourth quarter worth $27,000. 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.