Etsy (NASDAQ:ETSY) Given New $51.00 Price Target at Stifel Nicolaus

Etsy (NASDAQ:ETSY) had its price target reduced by Stifel Nicolaus from $56.00 to $51.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the company. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Citigroup boosted their target price on Etsy from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Cantor Fitzgerald lowered their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday. Finally, Raymond James lowered their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Trading Down 0.3 %

Shares of NASDAQ ETSY opened at $51.26 on Thursday. Etsy has a twelve month low of $47.10 and a twelve month high of $74.82. The stock has a fifty day simple moving average of $54.43 and a 200-day simple moving average of $53.78. The stock has a market capitalization of $5.49 billion, a PE ratio of 21.63, a PEG ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Etsy will post 2.57 earnings per share for the current year.

Etsy announced that its board has approved a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’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 sale, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Etsy

A number of large investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in shares of Etsy during the 4th quarter worth approximately $3,334,000. GTS Securities LLC raised its stake in shares of Etsy by 142.3% during the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after buying an additional 49,333 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Etsy during the 4th quarter worth approximately $283,000. Voloridge Investment Management LLC raised its stake in shares of Etsy by 40.6% during the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock worth $25,200,000 after buying an additional 137,602 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Etsy during the 4th quarter worth approximately $288,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.