Etsy (NASDAQ:ETSY) Shares Gap Down to $67.49

Etsy, Inc. (NASDAQ:ETSY) gapped down before the market opened on Thursday . The stock had previously closed at $67.49, but opened at $65.35. Etsy shares last traded at $66.50, with a volume of 547,846 shares traded.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of analyst reports. Wedbush dropped their price objective on shares of Etsy from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Evercore ISI dropped their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Finally, Morgan Stanley restated an “underweight” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Etsy in a report on Thursday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.48.

Etsy Trading Down 0.8 %

The firm has a 50 day moving average price of $70.04 and a 200-day moving average price of $71.36. The firm has a market cap of $7.93 billion, a PE ratio of 29.85, a PEG ratio of 4.77 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. Equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Alliance LLC acquired a new position in Etsy in the 1st quarter valued at about $262,000. MCF Advisors LLC raised its holdings in Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after purchasing an additional 3,296 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares in the last quarter. Steph & Co. raised its holdings in Etsy by 562.8% during the first quarter. Steph & Co. now owns 2,068 shares of the specialty retailer’s stock worth $142,000 after purchasing an additional 1,756 shares in the last quarter. Finally, FCF Advisors LLC raised its holdings in Etsy by 8.6% during the first quarter. FCF Advisors LLC now owns 22,952 shares of the specialty retailer’s stock worth $1,577,000 after purchasing an additional 1,823 shares in the last quarter. 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.