Etsy (NASDAQ:ETSY) Price Target Lowered to $46.00 at UBS Group

Etsy (NASDAQ:ETSY - Free Report) had its target price decreased by UBS Group from $54.00 to $46.00 in a report released on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the specialty retailer's stock.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald lowered their target price on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. JMP Securities restated a "market perform" rating on shares of Etsy in a research report on Monday, December 16th. Bank of America lowered their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler decreased their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Citigroup lowered their price target on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Four equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $56.58.

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Etsy Price Performance

NASDAQ:ETSY traded down $1.43 during midday trading on Friday, hitting $42.07. The company's stock had a trading volume of 1,305,351 shares, compared to its average volume of 3,799,907. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $71.72. The firm's 50 day moving average is $48.31 and its 200-day moving average is $51.71. The firm has a market cap of $4.50 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for 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 revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, analysts forecast that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the transaction, the chief executive officer now owns 31,818 shares in the company, valued at $1,534,582.14. This represents a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. 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 three months. Insiders own 2.60% of the company's stock.

Institutional Trading of Etsy

A number of large investors have recently made changes to their positions in the company. NorthCrest Asset Manangement LLC purchased a new stake in Etsy in the first quarter valued at approximately $269,000. Simon Quick Advisors LLC acquired a new position in shares of Etsy in the 1st quarter valued at $211,000. Assenagon Asset Management S.A. raised its position in Etsy by 36.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after purchasing an additional 535,864 shares during the last quarter. GAMMA Investing LLC boosted its stake in Etsy by 39.4% during the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock worth $91,000 after purchasing an additional 545 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in Etsy by 550.5% during the 1st quarter. Pallas Capital Advisors LLC now owns 34,430 shares of the specialty retailer's stock worth $1,624,000 after purchasing an additional 29,137 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

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.