Etsy (NASDAQ:ETSY) Reaches New 12-Month Low - Time to Sell?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $43.68 and last traded at $43.74, with a volume of 1175291 shares changing hands. The stock had previously closed at $44.66.

Analyst Ratings Changes

ETSY has been the subject of a number of recent research reports. UBS Group dropped their price objective on Etsy from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Loop Capital reduced their price target on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Etsy from $44.00 to $47.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Truist Financial reduced their target price on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group lowered their price target on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.42.

Etsy Stock Up 0.4 %

The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 2.23. The firm has a 50 day moving average price of $51.57 and a two-hundred day moving average price of $52.88.

Remove Ads

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) 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 company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period in the prior year, the company posted $0.62 EPS. Etsy's quarterly revenue was up 1.2% on a year-over-year basis. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $1,286,445 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

A number of large investors have recently modified their holdings of ETSY. Vanguard Group Inc. grew its position in Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after purchasing an additional 56,772 shares during the last quarter. Renaissance Technologies LLC raised its stake in Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after acquiring an additional 235,550 shares in the last quarter. Van ECK Associates Corp boosted its position in Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock worth $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after purchasing an additional 850,520 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

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.