Etsy (NASDAQ:ETSY) Reaches New 52-Week Low - Should You Sell?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $46.52 and last traded at $46.95, with a volume of 5655853 shares traded. The stock had previously closed at $50.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETSY shares. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a "hold" rating and dropped their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Etsy from $44.00 to $47.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and raised their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.78.

Remove Ads

Etsy Price Performance

The stock has a 50-day moving average price of $53.17 and a two-hundred day moving average price of $53.53. The stock has a market cap of $5.21 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. Equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Several large investors have recently modified their holdings of ETSY. Brooklyn FI LLC purchased a new position in Etsy during the fourth quarter worth $5,229,000. Neo Ivy Capital Management purchased a new position in shares of Etsy during the 4th quarter worth about $3,334,000. GTS Securities LLC grew its holdings in Etsy by 142.3% during the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer's stock valued at $776,000 after purchasing an additional 49,333 shares during the last quarter. PharVision Advisers LLC purchased a new stake in Etsy in the 4th quarter worth about $283,000. Finally, Voloridge Investment Management LLC lifted its stake in Etsy by 40.6% in the fourth quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer's stock worth $25,200,000 after purchasing an additional 137,602 shares during the last quarter. Institutional investors 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.