Etsy, Inc. (NASDAQ:ETSY – Get Free Report) reached a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $72.00 to $62.00. Citigroup currently has a neutral rating on the stock. Etsy traded as low as $56.60 and last traded at $58.00, with a volume of 4434449 shares changing hands. The stock had previously closed at $69.74.
A number of other equities research analysts also recently weighed in on ETSY. Evercore ISI decreased their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Barclays decreased their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday. Oppenheimer decreased their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and reduced their target price for the stock from $70.00 to $50.00 in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $79.96.
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 on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,968 shares of company stock worth $4,836,827. 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 ETSY. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Etsy by 27.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock valued at $2,913,000 after buying an additional 9,800 shares in the last quarter. Xponance Inc. increased its position in shares of Etsy by 8.1% in the 3rd quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock valued at $1,670,000 after buying an additional 1,946 shares in the last quarter. Raymond James & Associates increased its position in shares of Etsy by 2.0% in the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock valued at $7,140,000 after buying an additional 2,204 shares in the last quarter. Rovin Capital UT ADV increased its position in shares of Etsy by 28.6% in the 3rd quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 1,218 shares in the last quarter. Finally, Concord Wealth Partners boosted its stake in Etsy by 9,333.3% in the 3rd quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,960 shares during the period. Institutional investors own 99.53% of the company’s stock.
Etsy Trading Down 15.1 %
The company has a 50 day simple moving average of $68.28 and a 200-day simple moving average of $71.65. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 4.81 and a beta of 2.00.
Etsy (NASDAQ:ETSY – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts forecast that Etsy, Inc. will post 2.56 earnings per share for the current fiscal year.
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.