Etsy (NASDAQ:ETSY) Reaches New 12-Month Low – Should You Sell?

Etsy, Inc. (NASDAQ:ETSY)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $43.68 and last traded at $43.74, with a volume of 1175291 shares traded. The stock had previously closed at $44.66.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Loop Capital decreased their price target on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and reduced their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reduced their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.42.

Etsy Stock Up 0.1 %

The company has a fifty day simple moving average of $51.72 and a 200 day simple moving average of $52.96. The firm has a market capitalization of $4.82 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS 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 business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the business’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 completion of the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Victory Capital Management Inc. increased its position in Etsy by 422.1% during the third quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock valued at $5,614,000 after acquiring an additional 81,734 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Etsy by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock worth $958,000 after acquiring an additional 2,502 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock worth $6,576,000 after acquiring an additional 85,396 shares during the period. Prospera Private Wealth LLC bought a new position in Etsy during the third quarter valued at approximately $59,000. Finally, Advisors Asset Management Inc. boosted its stake in Etsy by 7.0% during the third quarter. Advisors Asset Management Inc. now owns 177,703 shares of the specialty retailer’s stock valued at $9,868,000 after buying an additional 11,594 shares during the last quarter. Hedge funds and other institutional investors 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.