Etsy (ETSY) Shares Down 5.2%

Shares of Etsy Inc (NASDAQ:ETSY) fell 5.2% during trading on Monday . The company traded as low as $48.51 and last traded at $50.10. 6,549,405 shares traded hands during mid-day trading, an increase of 142% from the average session volume of 2,706,941 shares. The stock had previously closed at $52.85.

A number of equities analysts have issued reports on ETSY shares. Wedbush reiterated a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Thursday. Loop Capital increased their target price on Etsy to $65.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson reiterated a “buy” rating and set a $59.00 target price (up previously from $53.00) on shares of Etsy in a report on Friday. Ifs Securities increased their target price on Etsy to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. Finally, Morgan Stanley increased their target price on Etsy from $23.00 to $36.00 and gave the stock an “underweight” rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.38.

The firm has a market capitalization of $5.89 billion, a PE ratio of 137.37, a PEG ratio of 7.86 and a beta of 0.23. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 0.90.

Etsy (NASDAQ:ETSY) last released its earnings results on Monday, August 6th. The specialty retailer reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Etsy had a return on equity of 13.23% and a net margin of 17.52%. The firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $127.10 million. During the same quarter last year, the company posted $0.10 EPS. Etsy’s revenue for the quarter was up 30.2% on a year-over-year basis. equities analysts expect that Etsy Inc will post 0.42 earnings per share for the current year.

In other news, Director M Michele Burns sold 5,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $43.85, for a total transaction of $219,250.00. Following the completion of the transaction, the director now directly owns 18,487 shares in the company, valued at approximately $810,654.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Melissa Reiff sold 35,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $46.01, for a total transaction of $1,610,350.00. Following the transaction, the director now owns 25,285 shares of the company’s stock, valued at $1,163,362.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,062 shares of company stock valued at $4,834,580. Company insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Etsy by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 8,236,200 shares of the specialty retailer’s stock worth $347,485,000 after buying an additional 351,600 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Etsy by 4.1% during the 2nd quarter. BlackRock Inc. now owns 8,022,998 shares of the specialty retailer’s stock worth $338,492,000 after buying an additional 314,975 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Etsy by 139.1% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 4,506,559 shares of the specialty retailer’s stock worth $190,132,000 after buying an additional 2,621,521 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Etsy by 26.8% during the 1st quarter. Point72 Asset Management L.P. now owns 1,698,225 shares of the specialty retailer’s stock worth $47,652,000 after buying an additional 358,900 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Etsy by 10.3% during the 2nd quarter. Millennium Management LLC now owns 1,519,119 shares of the specialty retailer’s stock worth $64,092,000 after buying an additional 141,470 shares during the last quarter. Institutional investors own 86.75% of the company’s stock.

About Etsy (NASDAQ:ETSY)

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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