Etsy, Inc. (NASDAQ:ETSY – Get Rating) shares dropped 7.7% during trading on Tuesday after Guggenheim lowered their price target on the stock from $175.00 to $101.00. Guggenheim currently has a buy rating on the stock. Etsy traded as low as $74.03 and last traded at $74.42. Approximately 129,158 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 3,687,443 shares. The stock had previously closed at $80.65.
Other research analysts also recently issued reports about the stock. Wedbush lowered their price target on shares of Etsy from $185.00 to $124.00 in a report on Thursday, May 5th. UBS Group dropped their target price on shares of Etsy from $180.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, June 3rd. Sanford C. Bernstein initiated coverage on Etsy in a report on Monday, May 23rd. They set an “outperform” rating and a $105.00 price target on the stock. Needham & Company LLC downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Monday. Finally, DA Davidson reduced their price target on shares of Etsy from $275.00 to $185.00 in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.28.
In other Etsy news, CMO Ryan M. Scott sold 2,323 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $132.60, for a total value of $308,029.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Ryan M. Scott sold 6,147 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $126.11, for a total transaction of $775,198.17. The disclosure for this sale can be found here. Insiders sold a total of 113,375 shares of company stock worth $10,399,294 over the last ninety days. 3.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Advisor Networks LLC boosted its stake in shares of Etsy by 1.2% in the 3rd quarter. Cetera Advisor Networks LLC now owns 3,288 shares of the specialty retailer’s stock worth $684,000 after buying an additional 38 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Etsy by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 20,505 shares of the specialty retailer’s stock valued at $4,489,000 after acquiring an additional 71 shares during the period. Signaturefd LLC boosted its position in Etsy by 13.6% in the fourth quarter. Signaturefd LLC now owns 653 shares of the specialty retailer’s stock worth $143,000 after purchasing an additional 78 shares during the last quarter. American National Bank grew its stake in shares of Etsy by 71.3% during the 1st quarter. American National Bank now owns 209 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Etsy by 18.1% during the 4th quarter. Quadrant Capital Group LLC now owns 588 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.
The company’s 50 day moving average price is $85.24 and its two-hundred day moving average price is $131.76. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 3.52. The stock has a market cap of $9.42 billion, a P/E ratio of 24.75, a PEG ratio of 1.66 and a beta of 1.76.
Etsy (NASDAQ:ETSY – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The firm had revenue of $579.30 million during the quarter, compared to the consensus estimate of $574.71 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Etsy, Inc. will post 2 earnings per share for the current year.
About Etsy (NASDAQ:ETSY)
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.