Etsy (NASDAQ:ETSY) Hits New 52-Week 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 trading hands. The stock had previously closed at $44.93.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Citigroup cut their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Morgan Stanley dropped their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Canaccord Genuity Group dropped their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, UBS Group dropped their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Up 2.8 %

The firm has a fifty day moving average of $52.62 and a 200-day moving average of $53.31. The firm has a market cap of $4.89 billion, a P/E ratio of 19.26, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter last year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,666 shares of company stock worth $1,286,445. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn FI LLC acquired a new stake in Etsy in the 4th quarter valued at approximately $5,229,000. Neo Ivy Capital Management acquired a new stake in Etsy in the 4th quarter valued at approximately $3,334,000. GTS Securities LLC raised its position in Etsy by 142.3% in the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock valued at $776,000 after buying an additional 49,333 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Etsy in the 4th quarter valued at approximately $283,000. Finally, Voloridge Investment Management LLC raised its position in Etsy by 40.6% in the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock valued at $25,200,000 after buying an additional 137,602 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.