Etsy (NASDAQ:ETSY) Price Target Raised to $50.00 at Deutsche Bank Aktiengesellschaft

Etsy (NASDAQ:ETSY - Free Report) had its target price increased by Deutsche Bank Aktiengesellschaft from $48.00 to $50.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the specialty retailer's stock.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lowered shares of Etsy from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $70.00 to $45.00 in a research report on Tuesday, October 15th. Piper Sandler restated a "neutral" rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Truist Financial decreased their target price on Etsy from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday. Evercore ISI upgraded Etsy to a "strong-buy" rating in a report on Thursday, August 1st. Finally, Citigroup decreased their price objective on Etsy from $65.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $64.87.

Etsy Trading Up 2.6 %

Etsy stock traded up $1.33 during mid-day trading on Friday, hitting $52.77. The stock had a trading volume of 5,216,869 shares, compared to its average volume of 3,769,234. The firm's 50 day moving average is $52.60 and its 200 day moving average is $58.15. Etsy has a one year low of $47.10 and a one year high of $89.58. The firm has a market capitalization of $6.06 billion, a P/E ratio of 26.92, a P/E/G ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 47.52%. The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. During the same period last year, the business posted $0.64 EPS. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Etsy will post 2.37 earnings per share for the current year.

Etsy declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the transaction, the insider now 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. Over the last three months, insiders have sold 4,619 shares of company stock valued at $240,825. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer's stock valued at $929,695,000 after buying an additional 91,900 shares during the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer's stock valued at $339,964,000 after acquiring an additional 721,454 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer's stock worth $248,623,000 after purchasing an additional 734,200 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Etsy by 52.3% during the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer's stock worth $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer's stock valued at $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Hedge funds and other 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.