Etsy (NASDAQ:ETSY) Sets New 1-Year Low – Should You Sell?

Shares of Etsy, Inc. (NASDAQ:ETSY) reached a new 52-week low during trading on Wednesday . The stock traded as low as $50.34 and last traded at $50.91, with a volume of 1584811 shares. The stock had previously closed at $50.83.

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Monday. Stifel Nicolaus reduced their price target on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. Finally, Wedbush restated a “neutral” rating and issued a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.14.

Etsy Price Performance

The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 4.99 and a beta of 1.97. The stock’s 50 day simple moving average is $53.78 and its two-hundred day simple moving average is $59.89.

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

Insider Activity

In related news, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,619 shares of company stock worth $300,670. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently bought and sold shares of ETSY. Vanguard Group Inc. increased its stake in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after buying an additional 91,900 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Etsy by 14.3% during the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares during the last quarter. Bares Capital Management Inc. increased its holdings in shares of Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after purchasing an additional 36,623 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Etsy by 52.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after purchasing an additional 721,453 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.