Etsy (NASDAQ:ETSY) Price Target Lowered to $35.00 at The Goldman Sachs Group

Etsy (NASDAQ:ETSY - Get Free Report) had its price objective dropped by stock analysts at The Goldman Sachs Group from $45.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sell" rating on the specialty retailer's stock. The Goldman Sachs Group's price objective indicates a potential downside of 23.27% from the stock's previous close.

ETSY has been the topic of a number of other research reports. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their price target on shares of Etsy from $56.00 to $51.00 and set a "hold" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald lowered their price objective on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. UBS Group reduced their target price on shares of Etsy from $54.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Citigroup decreased their price target on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $55.54.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded up $0.06 on Tuesday, hitting $45.61. The stock had a trading volume of 529,497 shares, compared to its average volume of 3,836,524. The firm's 50 day moving average price is $46.87 and its 200-day moving average price is $51.34. Etsy has a twelve month low of $40.05 and a twelve month high of $71.72. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. As a group, sell-side analysts predict that Etsy will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC boosted its position in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Etsy in the fourth quarter worth $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.

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.