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

Etsy, Inc. (NASDAQ:ETSY) 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 traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial dropped their target price on Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Wedbush dropped their price target on Etsy from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Piper Sandler upped their price target on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. BTIG Research dropped their price target on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $55.00 price target (down previously from $65.00) on shares of Etsy in a research note on Thursday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $87.48.

Etsy Stock Performance

The stock has a 50 day moving average price of $70.04 and a two-hundred day moving average price of $71.36. The company has a market capitalization of $7.93 billion, a PE ratio of 29.85, a P/E/G ratio of 4.77 and a beta of 2.01.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new position in shares of Etsy in the 4th quarter worth about $28,000. Quarry LP increased its stake in shares of Etsy by 121.7% in the 1st quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 146 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in shares of Etsy in the 2nd quarter worth about $25,000. CVA Family Office LLC bought a new stake in Etsy during the 4th quarter valued at about $27,000. Finally, Altshuler Shaham Ltd bought a new stake in Etsy during the 4th quarter valued at about $41,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Company Profile

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.