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

Etsy (NASDAQ:ETSY - Free Report) had its target price reduced by Wells Fargo & Company from $47.00 to $46.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an underweight rating on the specialty retailer's stock.

Several other equities analysts also recently commented on ETSY. Deutsche Bank Aktiengesellschaft downgraded Etsy to a "hold" rating and cut their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their price target on shares of Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Loop Capital decreased their price objective on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, February 20th. UBS Group decreased their price target on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $58.38.

Etsy Stock Down 3.4 %

ETSY traded down $1.53 during trading on Wednesday, reaching $42.89. The company had a trading volume of 2,018,818 shares, compared to its average volume of 3,755,673. The business has a 50 day simple moving average of $50.45 and a 200-day simple moving average of $52.42. The stock has a market cap of $4.59 billion, a P/E ratio of 18.13, a PEG ratio of 2.57 and a beta of 2.15. Etsy has a 52 week low of $41.55 and a 52 week high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. During the same period in the previous year, the company earned $0.62 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity

In related news, CEO Josh Silverman sold 21,666 shares of the firm'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 transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. 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 ninety days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its position in 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. Larson Financial Group LLC increased 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 last quarter. Heron Bay Capital Management raised its holdings in shares of Etsy by 1.3% during the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after acquiring an additional 258 shares during the period. Denver PWM LLC boosted its position in shares of Etsy by 36.1% during the 4th 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 last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares during the period. 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.