Etsy (NASDAQ:ETSY) Sets New 1-Year Low – What’s Next?

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

Wall Street Analyst Weigh In

ETSY has been the topic of several research analyst reports. Truist Financial restated a “buy” rating and issued a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price 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. Loop Capital lowered their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Piper Sandler restated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Four 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.22.

Etsy Trading Down 0.1 %

The company has a market capitalization of $5.94 billion, a PE ratio of 23.18, a P/E/G ratio of 5.39 and a beta of 1.97. The firm has a 50 day simple moving average of $54.47 and a two-hundred day simple moving average of $60.14.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Research analysts expect that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on 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 $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $315,670 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. increased its stake in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Etsy by 112.3% during 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. Larson Financial Group LLC increased its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Etsy in the 2nd quarter valued at about $42,000. Finally, Headlands Technologies LLC purchased a new position in Etsy in the 1st quarter valued at about $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.