Etsy (NASDAQ:ETSY) Reaches New 1-Year Low at $54.67

Etsy, Inc. (NASDAQ:ETSY) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $54.67 and last traded at $55.27, with a volume of 1255827 shares. The stock had previously closed at $59.35.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Canaccord Genuity Group dropped their target price on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group dropped their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Loop Capital lowered Etsy from a “hold” rating to a “sell” rating and lowered their price target for the company from $70.00 to $50.00 in a research report on Thursday, May 2nd. Finally, Truist Financial lowered their price target on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus price target of $73.91.

Etsy Trading Down 4.2 %

The firm has a 50 day simple moving average of $61.06 and a 200 day simple moving average of $65.95. The firm has a market capitalization of $6.65 billion, a PE ratio of 27.10, a P/E/G ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. Research analysts forecast that Etsy, Inc. will post 2.43 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares during the period. Capital International Investors boosted its position in shares of Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after buying an additional 45,305 shares during the period. Van ECK Associates Corp boosted 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 valued at $339,964,000 after buying an additional 721,454 shares during the period. Bares Capital Management Inc. boosted its position in shares of Etsy by 0.9% during 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 buying an additional 36,623 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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.