Etsy (NASDAQ:ETSY) Given New $65.00 Price Target at Deutsche Bank Aktiengesellschaft

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

Several other equities analysts have also recently weighed in on ETSY. Barclays raised their price objective on Etsy from $63.00 to $67.00 and gave the company an equal weight rating in a research note on Thursday, February 22nd. Morgan Stanley cut their price target on shares of Etsy from $66.00 to $64.00 and set an equal weight rating on the stock in a report on Thursday, February 22nd. Truist Financial decreased their price objective on shares of Etsy from $87.00 to $85.00 and set a buy rating for the company in a research note on Thursday, February 22nd. BTIG Research cut 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. Finally, Needham & Company LLC reaffirmed a buy rating and set a $95.00 price target on shares of Etsy in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $87.84.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $67.05 on Wednesday. Etsy has a 1 year low of $58.20 and a 1 year high of $104.93. The stock has a market capitalization of $7.94 billion, a P/E ratio of 29.93, a P/E/G ratio of 4.75 and a beta of 2.01. The company has a 50-day moving average price of $70.45 and a 200-day moving average price of $71.27.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, equities research analysts anticipate that Etsy will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’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 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 SEC, which is available through this link. In other news, 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 sale, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the 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 completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Hedge funds have recently bought and sold shares of the company. Quarry LP raised its position in Etsy by 121.7% in the 1st quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 146 shares during the period. KB Financial Partners LLC increased its holdings in shares of Etsy by 41.7% in the first quarter. KB Financial Partners LLC now owns 520 shares of the specialty retailer’s stock worth $65,000 after buying an additional 153 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Etsy by 7.3% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock worth $280,000 after buying an additional 153 shares during the period. Arizona State Retirement System lifted its stake in shares of Etsy by 0.5% in the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after acquiring an additional 157 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Etsy by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after acquiring an additional 161 shares during the period. Institutional investors own 99.53% of the company’s stock.

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.