Etsy (NASDAQ:ETSY) Price Target Lowered to $42.00 at JPMorgan Chase & Co.

Etsy (NASDAQ:ETSY - Get Free Report) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $50.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 3.67% from the stock's current price.

ETSY has been the subject of several other reports. 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 research note on Thursday, February 20th. Bank of America reduced their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald decreased their target price on Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and raised their target price for the company from $45.00 to $55.00 in a report on Monday, January 13th. Finally, Canaccord Genuity Group decreased their price target on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $56.71.

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Etsy Stock Performance

Etsy stock traded up $0.02 during trading on Tuesday, reaching $43.60. The company had a trading volume of 3,353,881 shares, compared to its average volume of 3,807,877. Etsy has a 12-month low of $40.05 and a 12-month high of $71.72. The stock's 50 day moving average price is $48.78 and its two-hundred day moving average price is $51.89. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. As a group, research analysts expect that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the 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 disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 over the last ninety days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after purchasing an additional 56,772 shares during the period. Renaissance Technologies LLC boosted its position in shares of Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after buying an additional 235,550 shares during the period. Van ECK Associates Corp grew its holdings in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after buying an additional 522,111 shares in the last quarter. DAVENPORT & Co LLC increased its position in Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after acquiring an additional 188,386 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after acquiring an additional 850,520 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

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.