Etsy (NASDAQ:ETSY) Reaches New 12-Month Low – Here’s What Happened

Etsy, Inc. (NASDAQ:ETSY) shares reached a new 52-week low on Tuesday . The stock traded as low as $47.69 and last traded at $47.69, with a volume of 80508 shares trading hands. The stock had previously closed at $49.61.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ETSY shares. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI raised Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Etsy in a research note on Monday, October 7th. Wells Fargo & Company lowered their price objective on Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Etsy Price Performance

The stock has a market cap of $5.85 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97. The stock’s 50 day simple moving average is $53.67 and its two-hundred day simple moving average is $59.66.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. As a group, analysts forecast that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock valued at $300,670 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ETSY. Sunbelt Securities Inc. boosted its holdings in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the last quarter. UMB Bank n.a. grew its position in shares of Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC increased its stake in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Etsy in the 2nd quarter valued at about $42,000. Finally, Headlands Technologies LLC acquired a new stake in Etsy in the 1st quarter valued at about $59,000. 99.53% of the stock is currently owned by institutional investors.

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.