Etsy (NYSE:ETSY) Trading Down 6.3% – What’s Next?

Etsy Inc (NYSE:ETSY) shares were down 6.3% during mid-day trading on Monday . The stock traded as low as $60.12 and last traded at $60.3370. Approximately 363,777 shares were traded during trading, a decline of 89% from the average daily volume of 3,459,543 shares. The stock had previously closed at $64.38.

Analysts Set New Price Targets

Several analysts have recently issued reports on ETSY shares. Stifel Nicolaus decreased their price objective on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company upped their price objective on Etsy from $47.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Truist Financial upped their price objective on Etsy from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Zacks Research downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Needham & Company LLC boosted their target price on Etsy from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.09.

Etsy Stock Performance

The firm’s 50-day moving average is $56.14. The company has a market capitalization of $5.67 billion, a PE ratio of 24.89, a P/E/G ratio of 5.74 and a beta of 1.89.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%. On average, analysts forecast that Etsy Inc will post 3.74 earnings per share for the current year.

Insiders Place Their Bets

In other Etsy news, CFO Charles Baker sold 2,030 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $63.50, for a total value of $128,905.00. Following the transaction, the chief financial officer owned 6,913 shares of the company’s stock, valued at $438,975.50. This represents a 22.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Merilee Buckley sold 1,993 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $52.92, for a total value of $105,469.56. Following the completion of the transaction, the chief accounting officer directly owned 809 shares in the company, valued at $42,812.28. This trade represents a 71.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 278,569 shares of company stock worth $17,724,416. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Etsy

Hedge funds have recently bought and sold shares of the business. EFG International AG bought a new position in shares of Etsy during the 4th quarter worth $33,000. Abich Financial Wealth Management LLC bought a new position in shares of Etsy during the 3rd quarter worth $51,000. Blue Trust Inc. grew its position in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares in the last quarter. Danske Bank A S bought a new position in shares of Etsy during the 3rd quarter worth $66,000. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.