Etsy (NASDAQ:ETSY) Downgraded to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Etsy (NASDAQ:ETSY) from a neutral rating to a sell rating in a report published on Tuesday morning, MarketBeat.com reports. They currently have $45.00 price objective on the specialty retailer’s stock, down from their previous price objective of $70.00.

Other analysts also recently issued research reports about the company. Loop Capital lowered their target price on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Truist Financial reaffirmed a “buy” rating and set a $76.00 target price on shares of Etsy in a report on Tuesday, September 24th. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Wolfe Research started coverage on shares of Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $69.36.

Etsy Stock Up 1.6 %

Etsy stock opened at $51.56 on Tuesday. Etsy has a 52 week low of $48.07 and a 52 week high of $89.58. The stock has a 50-day moving average price of $53.46 and a 200 day moving average price of $59.33. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate 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 last year, the company earned $0.83 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that Etsy will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock valued at $300,670 in the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC increased its position in shares of Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after acquiring an additional 3,296 shares during the last quarter. TD Asset Management Inc raised its position in Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the period. Diversified Trust Co lifted its stake in Etsy by 11.5% during the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after purchasing an additional 668 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock worth $10,093,000 after buying an additional 16,458 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Etsy by 184.3% during the first quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock worth $3,856,000 after buying an additional 36,372 shares during the period. 99.53% of the stock is currently owned by hedge funds and other 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.