Canaccord Genuity Group Trims Etsy (NASDAQ:ETSY) Target Price to $105.00

Etsy (NASDAQ:ETSY) had its price objective reduced by Canaccord Genuity Group from $125.00 to $105.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Several other analysts also recently issued reports on ETSY. Piper Sandler boosted their target price on shares of Etsy from $90.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. JMP Securities cut Etsy from an outperform rating to a market perform rating in a research note on Thursday. 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. Needham & Company LLC dropped their price objective on shares of Etsy from $95.00 to $75.00 and set a buy rating on the stock in a research note on Thursday. Finally, Loop Capital lowered shares of Etsy from a hold rating to a sell rating and decreased their target price for the company from $70.00 to $50.00 in a research note on Thursday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $79.96.

Etsy Stock Up 1.2 %

Shares of NASDAQ ETSY opened at $59.97 on Thursday. The business has a fifty day simple moving average of $67.77 and a 200-day simple moving average of $71.55. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 4.73 and a beta of 2.00. 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 data 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 net margin of 10.75% and a negative return on equity of 67.27%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the prior year, the company posted $0.53 earnings per share. Etsy’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the company’s 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 transaction, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was 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 $1,677,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,968 shares of company stock worth $4,836,827. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently bought and sold shares of the business. Geneva Capital Management LLC raised its position in Etsy by 2.8% in the first quarter. Geneva Capital Management LLC now owns 69,965 shares of the specialty retailer’s stock worth $4,808,000 after purchasing an additional 1,934 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Etsy by 120.7% in the 1st quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after buying an additional 431,993 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the period. Rehmann Capital Advisory Group boosted its stake in Etsy by 30.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer’s stock valued at $344,000 after buying an additional 1,165 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Etsy by 79.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock valued at $485,000 after acquiring an additional 3,122 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.