Etsy (NASDAQ:ETSY) Price Target Lowered to $62.00 at Citigroup

Etsy (NASDAQ:ETSY) had its price target dropped by investment analysts at Citigroup from $72.00 to $62.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price objective points to a potential upside of 4.55% from the stock’s current price.

Several other research analysts have also weighed in on the company. Barclays reduced their target price on Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday. Guggenheim decreased their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group lowered their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, BTIG Research dropped their price objective on shares of Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.96.

Etsy Stock Down 15.0 %

Shares of Etsy stock traded down $10.44 during trading on Thursday, reaching $59.30. 19,777,444 shares of the company were exchanged, compared to its average volume of 3,846,773. The business has a 50-day moving average price of $68.28 and a 200-day moving average price of $71.65. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 4.81 and a beta of 2.00. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities research analysts forecast that Etsy will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock valued at $4,836,827 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently bought and sold shares of ETSY. Capital International Investors raised its stake in Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp grew its stake in Etsy by 9.2% during the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock worth $346,528,000 after purchasing an additional 425,620 shares during the period. Bares Capital Management Inc. lifted its position in shares of Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after acquiring an additional 36,623 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after purchasing an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after acquiring an additional 952,907 shares during the period. 99.53% of the stock is currently 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.