Etsy (NASDAQ:ETSY) Price Target Lowered to $65.00 at Deutsche Bank Aktiengesellschaft

Etsy (NASDAQ:ETSY) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $80.00 to $65.00 in a research note published on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the specialty retailer’s stock.

Other analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Wedbush dropped their price objective on Etsy from $85.00 to $80.00 and set a neutral rating on the stock in a research note on Thursday, February 22nd. BTIG Research lowered their target price on Etsy from $90.00 to $87.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Truist Financial lowered their price objective on Etsy from $87.00 to $85.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Finally, Barclays lifted their target price on Etsy from $63.00 to $67.00 and gave the company an equal weight rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of Hold and an average target price of $87.84.

Etsy Stock Performance

Etsy stock opened at $67.69 on Wednesday. Etsy has a 52-week low of $58.20 and a 52-week high of $105.29. The firm has a 50 day moving average price of $70.70 and a two-hundred day moving average price of $71.21. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 4.57 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. As a group, equities research analysts predict that Etsy will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was 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 in the company, valued at $183,868.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the company’s 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 transaction, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Bares Capital Management Inc. raised its holdings in shares of Etsy by 57.8% during the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after acquiring an additional 1,480,655 shares in the last quarter. Norges Bank bought a new position in shares of Etsy during the fourth quarter valued at approximately $86,494,000. Van ECK Associates Corp raised its holdings in shares of Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock valued at $235,666,000 after acquiring an additional 1,047,811 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after acquiring an additional 952,907 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Etsy by 69.7% in the first quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after purchasing an additional 950,415 shares during the period. Institutional investors own 99.53% of the company’s stock.

About Etsy

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.