Etsy (NASDAQ:ETSY) Sets New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. Truist Financial restated a “buy” rating and set a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a research report on Friday, August 23rd. Stifel Nicolaus dropped their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.22.

Etsy Trading Down 0.1 %

The business’s 50-day simple moving average is $54.47 and its two-hundred day simple moving average is $60.14. The company has a market capitalization of $5.94 billion, a PE ratio of 23.18, a PEG ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that Etsy, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 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 transaction of $85,660.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Merilee Buckley sold 1,676 shares of the firm’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 $85,660.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the 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 sale, the insider now directly owns 592 shares in the company, valued at $30,257.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,869 shares of company stock worth $315,670. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently made changes to their positions in ETSY. Yousif Capital Management LLC increased its stake in shares of Etsy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after acquiring an additional 172 shares during the period. Exchange Capital Management Inc. boosted its stake in Etsy by 1.6% during the first quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after buying an additional 240 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Etsy by 7.0% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after acquiring an additional 240 shares during the period. Meridian Management Co. raised its position in Etsy by 0.4% in the second quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after acquiring an additional 241 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Etsy by 25.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock valued at $73,000 after purchasing an additional 253 shares in the last quarter. 99.53% of the stock is currently 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.