Etsy (NASDAQ:ETSY) Trading Down 5.4% – Here’s What Happened

Shares of Etsy, Inc. (NASDAQ:ETSY) fell 5.4% during trading on Wednesday . The company traded as low as $44.48 and last traded at $44.32. 3,795,694 shares changed hands during trading, an increase of 4% from the average session volume of 3,650,790 shares. The stock had previously closed at $46.87.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETSY shares. Loop Capital lowered their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their target price on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and an average price target of $58.78.

Etsy Stock Down 4.1 %

The business has a 50-day simple moving average of $52.95 and a 200-day simple moving average of $53.43. The company has a market cap of $4.81 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

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

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the 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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. Lindbrook Capital LLC grew its holdings 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 acquiring an additional 181 shares in the last quarter. True Wealth Design LLC grew its stake in shares of 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 purchasing an additional 292 shares in the last quarter. Hurley Capital LLC purchased a new position in Etsy in the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in Etsy during the 4th quarter worth about $37,000. 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.