Etsy (NASDAQ:ETSY) Hits New 1-Year Low – Time to Sell?

Etsy, Inc. (NASDAQ:ETSY)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $46.52 and last traded at $46.95, with a volume of 5655853 shares traded. The stock had previously closed at $50.00.

Analyst Ratings Changes

Several research firms have weighed in on ETSY. Citigroup cut their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Wells Fargo & Company lifted their target price on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus price target of $58.78.

Etsy Price Performance

The stock has a market capitalization of $5.01 billion, a PE ratio of 19.75, a PEG ratio of 2.57 and a beta of 2.00. The stock’s 50 day simple moving average is $53.17 and its two-hundred day simple moving average is $53.53.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several hedge funds have recently modified their holdings of ETSY. Lindbrook Capital LLC increased its holdings in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC raised its holdings in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC purchased a new stake in Etsy in the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the 4th quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new stake in Etsy during the fourth quarter worth about $37,000. 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.