Etsy (NASDAQ:ETSY) Trading Down 7.4% - Time to Sell?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) dropped 7.4% during trading on Friday . The stock traded as low as $54.86 and last traded at $54.88. Approximately 5,916,952 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 4,151,948 shares. The stock had previously closed at $59.29.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several research reports. Loop Capital lowered their target price on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their target price on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. UBS Group decreased their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Bank of America decreased their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $50.17.

Etsy Price Performance

The business has a 50-day simple moving average of $49.04 and a two-hundred day simple moving average of $51.27. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 2.57 and a beta of 1.80.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same period last year, the firm earned $0.48 EPS. Etsy's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 151,666 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the transaction, the chief executive officer now owns 107,809 shares of the company's stock, valued at $6,218,423.12. The trade was a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in Etsy by 1,066.3% during the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 8,797 shares during the last quarter. DJE Kapital AG bought a new position in Etsy during the 4th quarter worth $983,000. Charles Schwab Investment Management Inc. raised its position in shares of Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after acquiring an additional 122,126 shares in the last quarter. JBGlobal.com LLC raised its position in shares of Etsy by 68.2% in the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after acquiring an additional 5,206 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Etsy in the 4th quarter worth about $492,000. 99.53% of the stock is owned by institutional investors.

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.