Etsy (NASDAQ:ETSY) Given New $46.00 Price Target at Wells Fargo & Company

Etsy (NASDAQ:ETSY - Free Report) had its price target lowered by Wells Fargo & Company from $47.00 to $46.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the specialty retailer's stock.

ETSY has been the topic of a number of other research reports. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. UBS Group lowered their price target on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Canaccord Genuity Group lowered their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Morgan Stanley cut their target price on Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. 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 note on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $58.38.

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Etsy Trading Down 8.2 %

Etsy stock traded down $3.99 on Wednesday, hitting $44.42. 7,964,597 shares of the stock traded hands, compared to its average volume of 3,762,340. Etsy has a 1 year low of $43.43 and a 1 year high of $71.72. The firm has a market cap of $4.76 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The business's fifty day simple moving average is $50.45 and its 200 day simple moving average is $52.43.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,952 shares of company stock worth $2,554,620. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Etsy

Large investors have recently added to or reduced their stakes in the stock. DJE Kapital AG bought a new position in Etsy during the 4th quarter valued at approximately $983,000. Charles Schwab Investment Management Inc. lifted its position in shares of Etsy by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock valued at $59,820,000 after acquiring an additional 122,126 shares in the last quarter. Principal Financial Group Inc. grew its stake in Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after acquiring an additional 411,165 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Etsy in the 4th quarter worth approximately $492,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Etsy during the 4th quarter valued at about $751,000. Institutional investors 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.