Etsy (NASDAQ:ETSY) Trading Down 5.4% – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday, December 16th. 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 report on Thursday, February 20th. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. UBS Group decreased their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Citigroup dropped their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four investment 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, Etsy currently has an average rating of “Hold” and a consensus price target of $58.78.

Etsy Stock Performance

The stock has a market capitalization of $4.81 billion, a PE ratio of 18.96, a P/E/G ratio of 2.57 and a beta of 2.23. The company’s fifty day simple moving average is $52.95 and its two-hundred day simple moving average is $53.43.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter last year, the business posted $0.62 earnings per share. Etsy’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Lindbrook Capital LLC increased its position in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC acquired a new stake in shares of Etsy during the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in Etsy during the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.