Etsy (NASDAQ:ETSY) Rating Lowered to Sell at The Goldman Sachs Group

Etsy (NASDAQ:ETSY) was downgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday, Briefing.com reports. They currently have a $45.00 price objective on the specialty retailer’s stock, down from their prior price objective of $70.00. The Goldman Sachs Group’s target price indicates a potential downside of 9.29% from the company’s previous close.

Other analysts have also issued research reports about the stock. Wolfe Research began coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Wells Fargo & Company cut their target price on Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Stifel Nicolaus decreased their target price on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Etsy in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.00.

Etsy Stock Down 0.2 %

ETSY stock opened at $49.61 on Tuesday. Etsy has a twelve month low of $48.07 and a twelve month high of $89.58. The company has a market cap of $5.80 billion, a P/E ratio of 22.65, a PEG ratio of 4.99 and a beta of 1.97. The business has a fifty day moving average of $53.67 and a 200-day moving average of $59.66.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data 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 negative return on equity of 51.94% and a net margin of 10.36%. The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the prior year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Etsy will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on 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 directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Etsy news, 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 sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. 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

Several institutional investors have recently made changes to their positions in the stock. Wynn Capital LLC acquired a new stake in shares of Etsy in the 3rd quarter valued at approximately $205,000. UMB Bank n.a. lifted its stake in Etsy by 112.3% in the third 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 last quarter. Miracle Mile Advisors LLC bought a new position in shares of Etsy in the 3rd quarter valued at about $279,000. Diversified Trust Co increased its stake in shares of Etsy by 58.8% during the 3rd quarter. Diversified Trust Co now owns 10,257 shares of the specialty retailer’s stock worth $570,000 after purchasing an additional 3,798 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Etsy in the 2nd quarter valued at about $967,000. Institutional investors and hedge funds 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.