Etsy (NASDAQ:ETSY) Given New $60.00 Price Target at Barclays

Etsy (NASDAQ:ETSY) had its price target dropped by equities researchers at Barclays from $67.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price objective points to a potential upside of 1.08% from the stock’s current price.

Several other research firms also recently commented on ETSY. Loop Capital downgraded shares of Etsy from a “hold” rating to a “sell” rating and lowered their target price for the stock from $70.00 to $50.00 in a report on Thursday. Oppenheimer dropped their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. Evercore ISI cut their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group downgraded shares of Etsy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. Finally, BTIG Research dropped their price target on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $81.38.

Etsy Stock Down 14.9 %

Shares of ETSY stock traded down $10.38 during trading hours on Thursday, hitting $59.36. 9,434,751 shares of the company’s stock traded hands, compared to its average volume of 3,731,094. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 4.81 and a beta of 2.00. Etsy has a 12-month low of $56.60 and a 12-month high of $102.81. The stock’s fifty day simple moving average is $68.28 and its two-hundred day simple moving average is $71.65.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, equities analysts forecast that Etsy will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bares Capital Management Inc. grew its holdings in Etsy by 57.8% in 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 purchasing an additional 1,480,655 shares during the last quarter. Norges Bank acquired a new position in Etsy during the fourth quarter worth about $86,494,000. Van ECK Associates Corp raised its position in Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after acquiring an additional 1,047,811 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Etsy by 260.2% in 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 purchasing an additional 952,907 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Etsy by 84.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the last quarter. Institutional investors and hedge funds 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.