Etsy (NASDAQ:ETSY) Shares Down 12.4%

Etsy Inc (NASDAQ:ETSY) shares traded down 12.4% during trading on Friday . The stock traded as low as $59.68 and last traded at $59.71, 8,303,740 shares traded hands during trading. An increase of 213% from the average session volume of 2,650,390 shares. The stock had previously closed at $68.14.

Several analysts have recently commented on the company. Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a report on Monday, July 29th. ValuEngine downgraded Etsy from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet downgraded Etsy from a “b” rating to a “c+” rating in a research report on Friday, May 24th. Roth Capital upped their target price on Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus upped their target price on Etsy from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $71.75.

The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.81. The company’s 50-day simple moving average is $65.61. The stock has a market capitalization of $8.19 billion, a PE ratio of 97.89, a price-to-earnings-growth ratio of 4.47 and a beta of 0.92.

Etsy (NASDAQ:ETSY) last released its earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.28 million. Etsy had a return on equity of 27.38% and a net margin of 15.83%. The firm’s revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts anticipate that Etsy Inc will post 0.78 EPS for the current fiscal year.

In other Etsy news, CTO Michael T. Fisher sold 5,209 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $61.31, for a total transaction of $319,363.79. Following the sale, the chief technology officer now directly owns 32,435 shares of the company’s stock, valued at approximately $1,988,589.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Goyal Kruti Patel sold 4,505 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $61.80, for a total value of $278,409.00. Following the sale, the senior vice president now directly owns 16,389 shares in the company, valued at $1,012,840.20. The disclosure for this sale can be found here. Insiders have sold a total of 85,656 shares of company stock worth $5,691,884 over the last ninety days. 3.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its position in Etsy by 1.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,462 shares of the specialty retailer’s stock worth $1,039,000 after purchasing an additional 147 shares during the period. Aperio Group LLC grew its position in Etsy by 0.4% during the 2nd quarter. Aperio Group LLC now owns 41,990 shares of the specialty retailer’s stock worth $2,577,000 after purchasing an additional 175 shares during the period. Freestone Capital Holdings LLC acquired a new stake in Etsy during the 1st quarter worth about $13,445,000. Suntrust Banks Inc. grew its position in Etsy by 5.2% during the 4th quarter. Suntrust Banks Inc. now owns 4,654 shares of the specialty retailer’s stock worth $221,000 after purchasing an additional 230 shares during the period. Finally, Keybank National Association OH grew its position in Etsy by 2.1% during the 2nd quarter. Keybank National Association OH now owns 11,069 shares of the specialty retailer’s stock worth $679,000 after purchasing an additional 232 shares during the period. 95.61% of the stock is currently owned by institutional investors.

Etsy Company Profile (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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