Etsy (NASDAQ:ETSY) Hits New 52-Week Low – Time to Sell?

Etsy, Inc. (NASDAQ:ETSY)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $43.75 and last traded at $44.07, with a volume of 617563 shares. The stock had previously closed at $44.93.

Analyst Ratings Changes

ETSY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and lowered their price target for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group lowered their price target on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Citigroup lowered their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Stifel Nicolaus reduced their target price on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.78.

Etsy Trading Up 2.8 %

The company has a 50 day moving average of $52.62 and a 200-day moving average of $53.31. The firm has a market capitalization of $4.89 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, 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 transaction 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 approximately $260,458.20. The trade was a 81.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock valued at $1,286,445 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently modified their holdings of ETSY. Assetmark Inc. raised its holdings in shares of Etsy by 9.0% during the 3rd quarter. Assetmark Inc. now owns 24,411 shares of the specialty retailer’s stock worth $1,356,000 after buying an additional 2,025 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in Etsy in the 3rd quarter worth about $225,000. Victory Capital Management Inc. increased its holdings in Etsy by 422.1% in the 3rd quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock worth $5,614,000 after purchasing an additional 81,734 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Etsy in the 3rd quarter worth about $20,546,000. Finally, Mutual of America Capital Management LLC increased its holdings in Etsy by 17.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock worth $958,000 after purchasing an additional 2,502 shares in the last quarter. Institutional investors and hedge funds 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.