Etsy (NASDAQ:ETSY) Shares Gap Down to $43.12

Etsy Inc (NASDAQ:ETSY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $44.32, but opened at $43.12. Etsy shares last traded at $42.63, with a volume of 2,269,493 shares.

Several research firms recently weighed in on ETSY. KeyCorp reiterated an “overweight” rating and issued a $78.00 target price (down previously from $90.00) on shares of Etsy in a report on Thursday, October 31st. ValuEngine raised Etsy from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC cut their price target on shares of Etsy from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Canaccord Genuity cut their price objective on Etsy from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley cut Etsy from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $66.24.

The company has a quick ratio of 6.11, a current ratio of 6.11 and a debt-to-equity ratio of 2.14. The company has a market cap of $5.14 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 3.16 and a beta of 0.94. The firm has a fifty day simple moving average of $47.55 and a 200-day simple moving average of $57.08.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Etsy had a return on equity of 25.62% and a net margin of 14.14%. The firm had revenue of $197.95 million for the quarter, compared to the consensus estimate of $193.31 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities research analysts forecast that Etsy Inc will post 0.67 earnings per share for the current fiscal year.

In related news, SVP Goyal Kruti Patel sold 3,754 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.28, for a total transaction of $200,013.12. Following the transaction, the senior vice president now owns 11,406 shares of the company’s stock, valued at $607,711.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Michael T. Fisher sold 3,289 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.21, for a total value of $175,007.69. Following the transaction, the chief technology officer now directly owns 24,403 shares in the company, valued at approximately $1,298,483.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,460 shares of company stock valued at $928,789. 3.00% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Etsy by 82.2% in the 3rd quarter. State Street Corp now owns 2,886,938 shares of the specialty retailer’s stock valued at $163,112,000 after buying an additional 1,302,495 shares during the period. First Trust Advisors LP boosted its holdings in Etsy by 0.3% in the 3rd quarter. First Trust Advisors LP now owns 2,526,675 shares of the specialty retailer’s stock valued at $142,757,000 after purchasing an additional 6,829 shares in the last quarter. Congress Asset Management Co. MA increased its position in Etsy by 62.2% during the 3rd quarter. Congress Asset Management Co. MA now owns 2,520,522 shares of the specialty retailer’s stock worth $142,409,000 after purchasing an additional 966,534 shares during the period. Invesco Ltd. increased its position in Etsy by 22.0% during the 2nd quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after purchasing an additional 266,462 shares during the period. Finally, Granahan Investment Management Inc. MA raised its stake in shares of Etsy by 18.0% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,335,450 shares of the specialty retailer’s stock worth $75,453,000 after buying an additional 203,814 shares in the last quarter. 99.63% of the stock is currently owned by institutional investors and hedge funds.

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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