Etsy (NASDAQ:ETSY) Hits New 1-Year Low After Analyst Downgrade

Etsy, Inc. (NASDAQ:ETSY) shares reached a new 52-week low on Tuesday after UBS Group lowered their price target on the stock from $65.00 to $58.00. UBS Group currently has a neutral rating on the stock. Etsy traded as low as $47.69 and last traded at $47.69, with a volume of 80508 shares. The stock had previously closed at $49.61.

Several other equities analysts have also weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.36.

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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 $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock worth $300,670 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. lifted its position 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 buying an additional 429 shares during the period. UMB Bank n.a. boosted its stake in shares of Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Etsy in the 2nd quarter worth about $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Etsy during the 1st quarter worth about $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Trading Up 2.4 %

The stock has a market capitalization of $6.14 billion, a P/E ratio of 23.99, a P/E/G ratio of 4.99 and a beta of 1.97. The firm’s fifty day moving average is $53.60 and its 200-day moving average is $59.49.

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

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.