Etsy (NASDAQ:ETSY) Reaches New 1-Year Low – Time to Sell?

Etsy, Inc. (NASDAQ:ETSY)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $43.68 and last traded at $43.74, with a volume of 1175291 shares traded. The stock had previously closed at $44.66.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Loop Capital cut their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Citigroup cut their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, UBS Group cut their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.42.

Etsy Stock Up 0.3 %

The firm’s fifty day moving average price is $52.06 and its two-hundred day moving average price is $53.07. The stock has a market capitalization of $4.80 billion, a PE ratio of 18.84, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $861.37 million. During the same period in the previous year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

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 that occurred on Monday, February 3rd. The shares were 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 directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Etsy by 0.5% in the fourth 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 period. Pacer Advisors Inc. boosted its position in shares of Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after purchasing an additional 3,861,668 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 235,550 shares during the period. Van ECK Associates Corp boosted its position in shares of 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 purchasing an additional 522,111 shares during the period. Finally, DAVENPORT & Co LLC boosted its position 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 during the period. 99.53% of the stock is currently owned by institutional investors.

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.