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

Etsy, Inc. (NASDAQ:ETSY)’s stock price 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ETSY shares. Piper Sandler lifted their price objective on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Wells Fargo & Company lowered their price objective on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Wedbush lowered their price objective on shares of Etsy from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Barclays lifted their price objective on shares of Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Truist Financial decreased their target price on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $84.88.

Etsy Price Performance

The business’s fifty day simple moving average is $69.67 and its two-hundred day simple moving average is $71.35. The company has a market cap of $7.91 billion, a PE ratio of 29.80, a PEG ratio of 4.71 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. As a group, analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Transactions at Etsy

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

Institutional Trading of Etsy

Large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC purchased a new stake in Etsy during the 4th quarter valued at about $28,000. Quarry LP grew its stake in Etsy by 121.7% during the 1st quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 146 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in Etsy during the 2nd quarter valued at about $25,000. CVA Family Office LLC purchased a new stake in Etsy during the 4th quarter valued at about $27,000. Finally, Altshuler Shaham Ltd acquired a new position in Etsy in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 99.53% 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, 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.