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

Etsy (NASDAQ:ETSY) had its price objective raised by Deutsche Bank Aktiengesellschaft from $48.00 to $50.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the specialty retailer’s stock.

Several other research firms have also recently issued reports on ETSY. Wedbush decreased their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday. UBS Group decreased their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Finally, Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $64.87.

Etsy Trading Up 2.6 %

Shares of NASDAQ ETSY traded up $1.33 during midday trading on Friday, reaching $52.77. 5,217,180 shares of the stock were exchanged, compared to its average volume of 3,769,234. The company 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 has a 52-week low of $47.10 and a 52-week high of $89.58. The stock has a 50 day moving average price of $52.60 and a 200-day moving average price of $58.15.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 47.52% and a net margin of 9.17%. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts forecast that Etsy will post 2.37 earnings per share for the current year.

Etsy announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,619 shares of company stock worth $240,825 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Etsy by 7.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after purchasing an additional 240 shares during the period. Meridian Management Co. lifted its holdings in Etsy by 0.4% in the second quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after purchasing an additional 241 shares during the period. GAMMA Investing LLC lifted its holdings in Etsy by 25.6% in the second quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock worth $73,000 after purchasing an additional 253 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.