Etsy (NASDAQ:ETSY) Stock Price Down 5.4% - Time to Sell?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report)'s stock price traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $44.48 and last traded at $44.32. 3,795,694 shares were traded during trading, an increase of 4% from the average session volume of 3,650,790 shares. The stock had previously closed at $46.87.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Etsy to a "hold" rating and reduced their price objective for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Jefferies Financial Group raised Etsy from an "underperform" rating to a "hold" rating and raised their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Truist Financial cut their target price on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Finally, Loop Capital cut their target price on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus price target of $58.78.

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Etsy Stock Performance

The firm has a market cap of $4.78 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.57 and a beta of 2.23. The business's 50-day simple moving average is $52.25 and its 200 day simple moving average is $53.15.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on 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 sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $1,286,445 in the last 90 days. Company insiders own 2.60% of the company's stock.

Institutional Trading of Etsy

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after buying an additional 56,772 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Etsy by 183.9% during the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock valued at $331,067,000 after acquiring an additional 3,861,668 shares in the last quarter. Renaissance Technologies LLC raised its stake in Etsy by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after buying an additional 235,550 shares in the last quarter. Van ECK Associates Corp raised its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after buying an additional 522,111 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in 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 buying an additional 188,386 shares in the last quarter. Hedge funds and other 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.