Etsy (NASDAQ:ETSY) hits new 12-month low after analyst downgrade

Shares of Etsy, Inc. (NASDAQ:ETSY – Get Your Free Report ) hit a new 52-week low during trading on Monday, after Loop Capital reduced their target price for the stock from $50.00 to $45.00. Loop Capital currently has a sell rating on the stock. Etsy traded as high as $52.97 and last traded at $53.40, with a volume of 1476995 shares changing hands. Shares previously closed at $54.97.

Several other analysts have also recently commented on the stock. JMP Securities downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Wolfe Research began coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Stifel Nicolaus cut their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their price objective on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $73.68.

See the latest inventory analysis on ETSY

Insiders place their bets

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, 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 transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock worth $169,687 over the last ninety days. Insiders own 2.60% of the company’s shares.

Institutional inputs and outputs

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after acquiring an additional 91,900 shares during the period. Capital International Investors raised its holdings in shares of Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after purchasing an additional 45,305 shares. actions during the period. Van ECK Associates Corp boosted its holdings in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares during the period. Renaissance Technologies LLC boosted its holdings in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares during the period. Finally, Bares Capital Management Inc. raised its holdings in Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after buying an additional 36,623 shares during the period. 99.53% of shares are currently held by hedge funds and other institutional investors.

Etsy stock up 1.6%

The company’s fifty-day moving average is $59.89, and its 200-day moving average is $65.19. The stock has a market cap of $6.32 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY – Get Your Free Report ) last posted its quarterly earnings results 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. In the same quarter last year, the business posted EPS of $0.83. The company’s quarterly revenue was up 3.0% year over year. Equities analysts expect that Etsy, Inc. to post 2.43 EPS for the current year.

About Etsy

(Get a free report)

Etsy, Inc, together with its subsidiaries, operates two-way online marketplaces that connect buyers and sellers in the United States, United Kingdom, Germany, Canada, Australia and France. Its primary marketplace is Etsy.com, which connects artisans and entrepreneurs with diverse consumers. The company also offers Reverb, a marketplace for musical instruments; Depop, a fashion resale marketplace; and Elo7, a Brazilian marketplace for unique and handmade items.

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