Etsy (NASDAQ:ETSY) Shares Gap Down to $55.38

Etsy Inc (NASDAQ:ETSY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $56.40, but opened at $55.38. Etsy shares last traded at $54.09, with a volume of 2,151,245 shares changing hands.

ETSY has been the subject of several research reports. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Needham & Company LLC started coverage on Etsy in a research report on Monday, July 1st. They issued a “buy” rating and a $75.00 price target on the stock. KeyCorp set a $90.00 price target on Etsy and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus upgraded Etsy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday. Finally, Morgan Stanley set a $65.00 price target on Etsy and gave the company a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $73.13.

The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.47 and a current ratio of 4.47. The company has a 50-day simple moving average of $61.50 and a 200-day simple moving average of $63.69. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 88.67, a PEG ratio of 3.31 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, hitting the Thomson Reuters’ consensus estimate of $0.14. Etsy had a return on equity of 26.77% and a net margin of 15.83%. The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $183.28 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. As a group, equities research analysts forecast that Etsy Inc will post 0.8 EPS for the current year.

In related news, CTO Michael T. Fisher sold 5,209 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $61.31, for a total value of $319,363.79. Following the sale, the chief technology officer now owns 32,435 shares in the company, valued at approximately $1,988,589.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Michael T. Fisher sold 5,208 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.37, for a total value of $330,030.96. Following the completion of the sale, the chief technology officer now owns 22,580 shares in the company, valued at approximately $1,430,894.60. The disclosure for this sale can be found here. Insiders have sold a total of 33,572 shares of company stock worth $2,046,791 in the last quarter. 3.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Etsy by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,462 shares of the specialty retailer’s stock valued at $1,039,000 after buying an additional 147 shares in the last quarter. Aperio Group LLC lifted its stake in Etsy by 0.4% in the 2nd quarter. Aperio Group LLC now owns 41,990 shares of the specialty retailer’s stock valued at $2,577,000 after buying an additional 175 shares in the last quarter. Freestone Capital Holdings LLC purchased a new stake in Etsy in the 1st quarter valued at approximately $13,445,000. Keybank National Association OH lifted its stake in Etsy by 2.1% in the 2nd quarter. Keybank National Association OH now owns 11,069 shares of the specialty retailer’s stock valued at $679,000 after buying an additional 232 shares in the last quarter. Finally, We Are One Seven LLC lifted its stake in Etsy by 1.7% in the 2nd quarter. We Are One Seven LLC now owns 13,652 shares of the specialty retailer’s stock valued at $837,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 92.92% 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.

Read More: Initial Public Offering (IPO)

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