Etsy (NASDAQ:ETSY) Given New $45.00 Price Target at Loop Capital

Etsy (NASDAQ:ETSY) had its target price reduced by Loop Capital from $50.00 to $45.00 in a report issued on Monday, Benzinga reports. The firm presently has a “sell” rating on the specialty retailer’s stock. Loop Capital’s target price suggests a potential downside of 15.48% from the company’s previous close.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group cut their price target on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Wedbush reissued a “neutral” rating and set a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Citigroup lowered their price target on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus cut their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their target price on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.68.

Etsy Stock Down 3.1 %

Shares of NASDAQ:ETSY traded down $1.73 on Monday, reaching $53.24. 1,963,610 shares of the company’s stock were exchanged, compared to its average volume of 3,628,591. The business’s 50-day moving average is $60.35 and its two-hundred day moving average is $65.41. Etsy has a fifty-two week low of $52.97 and a fifty-two week high of $89.58. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the prior year, the company earned $0.83 EPS. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts predict that Etsy will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the transaction, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold a total of 2,694 shares of company stock valued at $169,687 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Norges Bank purchased a new stake in shares of Etsy in the fourth quarter valued at $86,494,000. Van ECK Associates Corp boosted its position in Etsy by 26.5% during the 4th quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after acquiring an additional 967,777 shares during the period. TD Asset Management Inc boosted its position in Etsy by 260.2% during the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after acquiring an additional 952,907 shares during the period. Renaissance Technologies LLC grew its stake in Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after acquiring an additional 734,200 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Etsy by 84.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.