Etsy (NASDAQ:ETSY) Reaches New 12-Month Low – Time to Sell?

Etsy, Inc. (NASDAQ:ETSY) hit a new 52-week low during trading on Thursday . The company traded as low as $43.75 and last traded at $44.07, with a volume of 617563 shares. The stock had previously closed at $44.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETSY. Loop Capital dropped their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald cut their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and dropped their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus lowered their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Performance

The firm’s 50-day simple moving average is $52.79 and its two-hundred day simple moving average is $53.37. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently modified their holdings of ETSY. Brooklyn FI LLC bought a new position in Etsy in the 4th quarter worth approximately $5,229,000. Neo Ivy Capital Management purchased a new position in Etsy in the 4th quarter worth $3,334,000. GTS Securities LLC boosted its holdings in Etsy by 142.3% during the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock valued at $776,000 after acquiring an additional 49,333 shares during the period. PharVision Advisers LLC purchased a new stake in Etsy during the 4th quarter valued at $283,000. Finally, Voloridge Investment Management LLC boosted its holdings in Etsy by 40.6% in the fourth quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock valued at $25,200,000 after acquiring an additional 137,602 shares in the last quarter. 99.53% of the stock is 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.