Etsy (NYSE:ETSY) Shares Down 7.6% – Should You Sell?

Etsy Inc (NYSE:ETSY)’s share price was down 7.6% on Thursday . The stock traded as low as $68.57 and last traded at $68.1150. 1,701,717 shares were traded during trading, a decline of 48% from the average session volume of 3,249,410 shares. The stock had previously closed at $73.70.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ETSY shares. The Goldman Sachs Group assumed coverage on shares of Etsy in a research report on Monday, August 17th. They issued a “neutral” rating and a $89.00 target price for the company. BTIG Research raised Etsy from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday, September 18th. Argus upped their price objective on Etsy from $67.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Raymond James Financial increased their price objective on Etsy from $75.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut Etsy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.21.

Etsy Price Performance

The stock has a market capitalization of $6.45 billion, a P/E ratio of 38.02, a PEG ratio of 1.88 and a beta of 1.81. The stock has a 50 day moving average price of $79.96 and a 200-day moving average price of $69.40.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. Research analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Insider Activity

In other Etsy news, Director Charles Ballard sold 4,500 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $81.85, for a total value of $368,325.00. Following the sale, the director owned 4,239 shares of the company’s stock, valued at $346,962.15. This trade represents a 51.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 405 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $79.50, for a total transaction of $32,197.50. Following the completion of the transaction, the chief accounting officer owned 167 shares in the company, valued at $13,276.50. The trade was a 70.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 271,149 shares of company stock valued at $21,391,497. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in Etsy during the 2nd quarter valued at approximately $34,000. EFG International AG bought a new stake in shares of Etsy in the 2nd quarter worth approximately $45,000. CoreCap Advisors LLC increased its stake in shares of Etsy by 2,379.1% during the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock valued at $80,000 after buying an additional 1,023 shares during the period. Blue Trust Inc. raised its holdings in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Etsy during the second quarter valued at approximately $105,000. 99.53% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.