Etsy (NASDAQ:ETSY) Given New $58.00 Price Target at Wells Fargo & Company

Etsy (NASDAQ:ETSY) had its price target reduced by Wells Fargo & Company from $60.00 to $58.00 in a research report report published on Thursday, Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Needham & Company LLC reduced their price objective on Etsy from $95.00 to $75.00 and set a buy rating on the stock in a research note on Thursday. The Goldman Sachs Group downgraded Etsy from a buy rating to a neutral rating and lowered their target price for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Oppenheimer cut their target price on shares of Etsy from $95.00 to $80.00 and set an outperform rating for the company in a report on Monday, April 29th. Finally, Evercore ISI lowered their price objective on shares of Etsy from $95.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $79.96.

Etsy Stock Performance

Shares of Etsy stock traded up $0.73 during trading hours on Thursday, hitting $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The company has a market cap of $7.02 billion, a PE ratio of 27.38, a PEG ratio of 4.16 and a beta of 2.00. The business has a 50 day moving average price of $67.77 and a two-hundred day moving average price of $71.52. Etsy has a 12-month low of $56.60 and a 12-month high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Etsy will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently added to or reduced their stakes in ETSY. Capital International Investors grew its position in shares of Etsy by 0.6% in the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 9.2% in the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after acquiring an additional 425,620 shares in the last quarter. Bares Capital Management Inc. increased its position in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after purchasing an additional 36,623 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Etsy by 260.2% in the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. 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.