Etsy, Inc. (NASDAQ:ETSY – Get Free Report)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $72.40 and last traded at $72.88, with a volume of 272733 shares trading hands. The stock had previously closed at $73.32.
Wall Street Analysts Forecast Growth
ETSY has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Etsy from $75.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. StockNews.com assumed coverage on Etsy in a research report on Thursday, August 17th. They set a “hold” rating for the company. Truist Financial upped their price objective on shares of Etsy from $120.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Sanford C. Bernstein downgraded Etsy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $120.00 to $105.00 in a research report on Thursday, August 3rd. Finally, UBS Group dropped their target price on Etsy from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.43.
View Our Latest Stock Report on Etsy
Etsy Price Performance
Etsy (NASDAQ:ETSY – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.83 EPS for the quarter, beating the consensus estimate of $0.41 by $0.42. The company had revenue of $628.88 million during the quarter, compared to analysts’ expectations of $621.87 million. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. On average, sell-side analysts expect that Etsy, Inc. will post 2.73 EPS for the current fiscal year.
Insider Buying and Selling at Etsy
In other Etsy news, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $95.33, for a total value of $1,987,630.50. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at $1,398,872.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Nicholas Daniel sold 1,760 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the sale, the insider now owns 8,704 shares in the company, valued at approximately $884,761.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $95.33, for a total value of $1,987,630.50. Following the transaction, the chief executive officer now owns 14,674 shares of the company’s stock, valued at approximately $1,398,872.42. The disclosure for this sale can be found here. Insiders sold 85,398 shares of company stock valued at $7,971,108 in the last quarter. Company insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On Etsy
A number of hedge funds have recently bought and sold shares of the company. Comerica Bank bought a new position in shares of Etsy in the second quarter worth approximately $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 worth $5,403,000 after acquiring an additional 1,543 shares during the last quarter. Imprint Wealth LLC bought a new position in Etsy in the 2nd quarter valued at approximately $1,269,000. GTS Securities LLC bought a new stake in shares of Etsy in the 2nd quarter worth $15,931,000. Finally, State of Tennessee Treasury Department increased its holdings in Etsy by 98.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 38,947 shares of the specialty retailer’s stock worth $3,295,000 after buying an additional 19,317 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.
About Etsy
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.
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