Etsy (NASDAQ:ETSY) Reaches New 12-Month Low at $55.80

Etsy, Inc. (NASDAQ:ETSY)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $55.80 and last traded at $55.90, with a volume of 1704653 shares. The stock had previously closed at $58.45.

Analyst Upgrades and Downgrades

ETSY has been the subject of several analyst reports. Loop Capital cut Etsy from a “hold” rating to a “sell” rating and dropped their price objective for the company from $70.00 to $50.00 in a report on Thursday, May 2nd. Guggenheim cut their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Citigroup cut their price target on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $79.88.

Etsy Price Performance

The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 4.51 and a beta of 2.02. The stock has a fifty day moving average of $61.50 and a two-hundred day moving average of $67.87.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts forecast that Etsy, Inc. will post 2.49 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in ETSY. Royal London Asset Management Ltd. grew its position in shares of Etsy by 4.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 52,074 shares of the specialty retailer’s stock worth $3,363,000 after buying an additional 2,349 shares during the period. Diversified Trust Co bought a new stake in Etsy in the third quarter valued at $401,000. 2Xideas AG raised its holdings in shares of Etsy by 45.8% during the third quarter. 2Xideas AG now owns 152,896 shares of the specialty retailer’s stock valued at $9,874,000 after purchasing an additional 48,023 shares during the period. FCF Advisors LLC boosted its position in shares of Etsy by 237.1% during the 4th quarter. FCF Advisors LLC now owns 21,129 shares of the specialty retailer’s stock worth $1,713,000 after purchasing an additional 14,862 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Etsy by 41.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 25,116 shares of the specialty retailer’s stock valued at $2,036,000 after buying an additional 7,377 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

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.