Etsy (NASDAQ:ETSY) Given New $52.00 Price Target at Morgan Stanley

Etsy (NASDAQ:ETSY) had its price objective trimmed by Morgan Stanley from $55.00 to $52.00 in a research note released on Thursday, Benzinga reports. The firm currently has an underweight rating on the specialty retailer’s stock.

Other equities analysts have also issued research reports about the company. B. Riley cut their target price on Etsy from $91.00 to $83.00 and set a buy rating on the stock in a research note on Thursday. UBS Group dropped their price objective on Etsy from $75.00 to $72.00 and set a neutral rating on the stock in a research note on Thursday, February 22nd. Wedbush decreased their target price on Etsy from $70.00 to $65.00 and set a neutral rating for the company in a research note on Thursday. Truist Financial dropped their price target on Etsy from $85.00 to $75.00 and set a buy rating on the stock in a research report on Thursday. Finally, BTIG Research decreased their price objective on Etsy from $87.00 to $78.00 and set a buy rating for the company in a research report on Thursday. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $79.96.

Etsy Trading Up 1.2 %

ETSY opened at $59.97 on Thursday. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The stock has a market capitalization of $7.02 billion, a PE ratio of 27.38, a PEG ratio of 4.22 and a beta of 2.00. The firm has a 50-day moving average price of $67.77 and a two-hundred day moving average price of $71.55.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company 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 business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, research analysts predict that Etsy will post 2.57 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC bought a new stake in shares of Etsy during the 4th quarter worth about $27,000. Operose Advisors LLC bought a new stake in shares of Etsy during the third quarter worth approximately $28,000. Sunbelt Securities Inc. boosted its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Etsy during the fourth quarter worth approximately $41,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.