Etsy (NASDAQ:ETSY) Reaches New 12-Month Low – Should You Sell?

Etsy, Inc. (NASDAQ:ETSY) reached a new 52-week low during trading on Wednesday . The company traded as low as $43.68 and last traded at $43.74, with a volume of 1175291 shares trading hands. The stock had previously closed at $44.66.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. UBS Group decreased their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus decreased their target price on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. started coverage on Etsy in a research report on Wednesday. They set a “neutral” rating and a $50.00 target price for the company. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $58.42.

Etsy Stock Performance

The firm has a 50 day simple moving average of $51.72 and a 200 day simple moving average of $52.96. The firm has a market cap of $4.82 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results 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 the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

A number of large investors have recently modified their holdings of the company. 111 Capital purchased a new position in shares of Etsy during the 4th quarter valued at about $310,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Etsy by 125.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer’s stock valued at $923,000 after buying an additional 9,718 shares in the last quarter. Brooklyn FI LLC purchased 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 approximately $3,334,000. Finally, GTS Securities LLC increased its stake in Etsy by 142.3% in the 4th quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after purchasing an additional 49,333 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.