Etsy (NASDAQ:ETSY) Sets New 12-Month Low at $62.89

Shares of Etsy, Inc. (NASDAQ:ETSY) reached a new 52-week low on Tuesday . The stock traded as low as $62.89 and last traded at $63.41, with a volume of 220871 shares traded. The stock had previously closed at $63.85.

Analysts Set New Price Targets

Several research firms recently weighed in on ETSY. BTIG Research dropped their price objective on shares of Etsy from $130.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, June 30th. DA Davidson dropped their target price on shares of Etsy from $166.00 to $157.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Loop Capital dropped their target price on shares of Etsy from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, September 11th. Guggenheim dropped their target price on shares of Etsy from $125.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. Finally, Truist Financial upped their target price on shares of Etsy from $120.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and an average price target of $114.54.

Etsy Price Performance

The stock’s 50 day moving average is $80.92 and its two-hundred day moving average is $91.36.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.42. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. The company had revenue of $628.88 million during the quarter, compared to the consensus estimate of $621.87 million. Analysts predict that Etsy, Inc. will post 2.73 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,760 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $101.65, for a total transaction of $178,904.00. Following the completion of the transaction, the insider now directly owns 8,704 shares in the company, valued at approximately $884,761.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Josh Silverman sold 10,425 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $64.77, for a total value of $675,227.25. Following the sale, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at approximately $950,434.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,760 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $101.65, for a total transaction of $178,904.00. Following the completion of the sale, the insider now directly owns 8,704 shares in the company, valued at $884,761.60. The disclosure for this sale can be found here. Insiders sold a total of 96,423 shares of company stock worth $8,534,347 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Portside Wealth Group LLC bought a new stake in shares of Etsy in the 2nd quarter valued at about $1,158,000. Alberta Investment Management Corp raised its holdings in Etsy by 4.6% in the 2nd quarter. Alberta Investment Management Corp now owns 18,344 shares of the specialty retailer’s stock valued at $1,552,000 after acquiring an additional 808 shares during the period. Comerica Bank bought a new position in Etsy in the 2nd quarter valued at about $25,890,000. Osaic Holdings Inc. raised its holdings in Etsy by 2.5% in the 2nd quarter. Osaic Holdings Inc. now owns 63,798 shares of the specialty retailer’s stock valued at $5,403,000 after acquiring an additional 1,543 shares during the period. Finally, Imprint Wealth LLC bought a new position in Etsy in the 2nd quarter valued at about $1,269,000. 92.98% of the stock is owned by institutional investors.

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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.