Etsy (NASDAQ:ETSY) Given New $31.00 Price Target at The Goldman Sachs Group

Etsy (NASDAQ:ETSY) had its price target lowered by The Goldman Sachs Group from $35.00 to $31.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the specialty retailer’s stock.

Several other research firms also recently issued reports on ETSY. Cantor Fitzgerald lifted their price objective on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley dropped their price target on shares of Etsy from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup reduced their price objective on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Wednesday. Finally, Truist Financial reduced their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.14.

Etsy Trading Up 4.2 %

Shares of ETSY stock opened at $44.30 on Thursday. The firm has a fifty day simple moving average of $45.88 and a 200-day simple moving average of $51.10. The company has a market capitalization of $4.62 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. Etsy has a twelve month low of $40.05 and a twelve month high of $66.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to analysts’ expectations of $642.22 million. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts predict that Etsy will post 2.57 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock valued at $2,554,620 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. Lindbrook Capital LLC grew its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Etsy by 8.7% in the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after acquiring an additional 218 shares during the period. Allworth Financial LP boosted its holdings in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 248 shares in the last quarter. Heron Bay Capital Management increased its stake in shares of Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after acquiring an additional 258 shares during the period. Finally, Denver PWM LLC increased its stake in shares of Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 289 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

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.