Wells Fargo & Company Trims Etsy (NASDAQ:ETSY) Target Price to $47.00

Etsy (NASDAQ:ETSY) had its price objective trimmed by Wells Fargo & Company from $58.00 to $47.00 in a report issued on Thursday, Benzinga reports. The firm currently has an underweight rating on the specialty retailer’s stock.

ETSY has been the subject of a number of other reports. Evercore ISI raised shares of Etsy to a strong-buy rating in a research report on Thursday, August 1st. Stifel Nicolaus reduced their target price on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a report on Thursday, August 1st. Piper Sandler restated a neutral rating and set a $56.00 target price on shares of Etsy in a research report on Friday, August 23rd. Wedbush reaffirmed a neutral rating and set a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Finally, Loop Capital decreased their price objective on Etsy from $50.00 to $45.00 and set a sell rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $70.22.

Etsy Trading Up 3.3 %

NASDAQ:ETSY opened at $52.80 on Thursday. The company has a market capitalization of $6.17 billion, a P/E ratio of 24.11, a PEG ratio of 5.39 and a beta of 1.97. Etsy has a 12 month low of $50.54 and a 12 month high of $89.58. The firm has a fifty day simple moving average of $55.00 and a 200-day simple moving average of $60.48.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Equities analysts forecast that Etsy will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock valued at $315,670. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy in the second quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new position in Etsy during the first quarter worth approximately $59,000. Finally, Jones Financial Companies Lllp boosted its stake in Etsy by 64.0% during the fourth quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock worth $77,000 after buying an additional 372 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

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.