Etsy, Inc. (NASDAQ:ETSY - Get Free Report) traded down 6.5% during mid-day trading on Thursday . The stock traded as low as $49.78 and last traded at $49.58. 1,070,788 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,227,725 shares. The stock had previously closed at $53.05.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Etsy in a research note on Wednesday, April 30th. The Goldman Sachs Group dropped their price target on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group cut their price objective on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 28th. UBS Group decreased their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald boosted their price target on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Etsy has an average rating of "Hold" and an average price target of $49.87.
View Our Latest Research Report on ETSY
Etsy Price Performance
The firm's 50 day moving average price is $50.96 and its 200-day moving average price is $51.11. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 2.92 and a beta of 1.80.
Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. Analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.
Insider Buying and Selling at Etsy
In other news, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $58.77, for a total value of $88,155.00. Following the completion of the sale, the insider now owns 31,822 shares in the company, valued at $1,870,178.94. This represents a 4.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock valued at $218,890,000 after buying an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after purchasing an additional 1,486,142 shares in the last quarter. Norges Bank purchased a new stake in Etsy in the 4th quarter valued at about $74,235,000. Victory Capital Management Inc. lifted its stake in Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock valued at $42,982,000 after purchasing an additional 711,572 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after acquiring an additional 535,864 shares during the period. 99.53% of the stock is owned by institutional investors.
About Etsy
(
Get Free Report)
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.
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