Etsy (NASDAQ:ETSY) Hits New 12-Month Low – Here’s Why

Etsy, Inc. (NASDAQ:ETSY) reached a new 52-week low on Monday . The company traded as low as $41.48 and last traded at $42.34, with a volume of 254246 shares changing hands. The stock had previously closed at $44.42.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ETSY shares. Cantor Fitzgerald dropped their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Truist Financial reduced their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Finally, Morgan Stanley reduced their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $58.38.

Etsy Trading Down 3.1 %

The company has a market cap of $4.61 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.57 and a beta of 2.15. The stock has a 50 day moving average price of $50.45 and a two-hundred day moving average price of $52.42.

Etsy (NASDAQ:ETSY) last released its earnings results 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. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC increased its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after acquiring an additional 218 shares during the period. Heron Bay Capital Management grew its position in Etsy by 1.3% in the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after buying an additional 258 shares during the last quarter. Denver PWM LLC lifted its position in Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 289 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after buying an additional 292 shares in the last quarter. Hedge funds and other 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.