Deutsche Bank Aktiengesellschaft Lowers Etsy (NASDAQ:ETSY) Price Target to $54.00

Etsy (NASDAQ:ETSY) had its target price dropped by Deutsche Bank Aktiengesellschaft from $63.00 to $54.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 1.43% from the company’s previous close.

Several other equities research analysts have also commented on ETSY. Jefferies Financial Group reduced their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Raymond James Financial reaffirmed an “outperform” rating and set a $78.00 target price (down from $80.00) on shares of Etsy in a report on Thursday, October 30th. B. Riley Financial dropped their price target on shares of Etsy from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Canaccord Genuity Group cut their price objective on shares of Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, Truist Financial upped their price objective on Etsy from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $60.40.

Etsy Price Performance

Shares of ETSY opened at $53.24 on Tuesday. The firm has a market capitalization of $5.12 billion, a P/E ratio of 42.93, a PEG ratio of 10.65 and a beta of 1.77. Etsy has a one year low of $40.05 and a one year high of $76.51. The business has a fifty day moving average of $55.63 and a 200 day moving average of $59.36.

Etsy declared that its Board of Directors has approved a stock buyback plan on Thursday, December 18th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CAO Merilee Buckley sold 5,636 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $58.45, for a total transaction of $329,424.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider directly owned 90,661 shares in the company, valued at approximately $4,828,604.86. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 135,934 shares of company stock valued at $7,661,068 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compound Planning Inc. increased its holdings in Etsy by 16.6% in the 4th quarter. Compound Planning Inc. now owns 4,000 shares of the specialty retailer’s stock valued at $222,000 after acquiring an additional 570 shares during the last quarter. Invesco Ltd. grew its position in shares of Etsy by 26.8% during the fourth quarter. Invesco Ltd. now owns 361,193 shares of the specialty retailer’s stock valued at $20,025,000 after purchasing an additional 76,379 shares in the last quarter. Rare Wolf Capital LLC bought a new stake in shares of Etsy in the fourth quarter worth about $1,247,000. Corient Private Wealth LLC lifted its position in shares of Etsy by 33.7% in the fourth quarter. Corient Private Wealth LLC now owns 23,023 shares of the specialty retailer’s stock worth $1,276,000 after buying an additional 5,797 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Etsy by 64.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 39,736 shares of the specialty retailer’s stock valued at $2,203,000 after buying an additional 15,596 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.