Etsy (NASDAQ:ETSY) Rating Reiterated by Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Etsy (NASDAQ:ETSY) in a research report report published on Thursday morning, Marketbeat Ratings reports. They currently have a $55.00 price target on the specialty retailer’s stock, down from their previous price target of $65.00.

Several other equities research analysts also recently weighed in on ETSY. The Goldman Sachs Group downgraded shares of Etsy from a buy rating to a neutral rating and dropped their target price for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th. Truist Financial decreased their price target on shares of Etsy from $87.00 to $85.00 and set a buy rating for the company in a report on Thursday, February 22nd. Piper Sandler lifted their price target on shares of Etsy from $90.00 to $103.00 and gave the company an overweight rating in a report on Thursday, February 22nd. UBS Group decreased their price target on shares of Etsy from $75.00 to $72.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $95.00 price target on shares of Etsy in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $87.48.

Etsy Stock Performance

ETSY opened at $67.34 on Thursday. The company has a 50-day moving average of $69.90 and a 200-day moving average of $71.33. The company has a market capitalization of $7.98 billion, a P/E ratio of 30.06, a PEG ratio of 4.77 and a beta of 2.01. Etsy has a 1-year low of $58.20 and a 1-year high of $104.93.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share 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, sell-side analysts expect that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the business’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 sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. In the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Capital Advisors Group LLC. acquired a new stake in shares of Etsy during the second quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in shares of Etsy during the fourth quarter valued at approximately $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy during the third quarter valued at approximately $28,000. ICA Group Wealth Management LLC acquired a new stake in shares of Etsy during the fourth quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. raised 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 valued at $30,000 after acquiring an additional 429 shares during the period. 99.53% of the stock is currently owned by institutional investors.

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.