Bernstein downgrades Etsy Inc. (ETSY) stock to a Mkt perform


In a filing, Etsy Inc. revealed its President & CEO Silverman Josh unloaded Company’s shares for reported $0.78 million on Aug 16. In the deal valued at $75.01 per share,10,425 shares were sold. As a result of this transaction, Silverman Josh now holds 14,674 shares worth roughly $ 1.06 million.

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Then, Silverman Josh sold 20,850 shares, generating $1,992,715 in total proceeds. Upon selling the shares at $95.57, the President & CEO now owns 14,674 shares.

Before that, Daniel Nicholas sold 1,760 shares. Etsy Inc. shares valued at $178,904 were divested by the Chief Product Officer at a price of $101.65 per share. As a result of the transaction, Daniel Nicholas now holds 8,704 shares, worth roughly $0.63 million.

Bernstein downgraded its Etsy Inc. [ETSY] rating to a Mkt perform from a an Outperform in a research note published on Friday, August 03, 2023; the price target was decreased to $105 from $120. PT values the company’s stock at a premium of 31.13 to its Friday closing price.

Price Performance Review of ETSY

On Friday, Etsy Inc. [NASDAQ:ETSY] saw its stock jump 0.96% to $72.31. On the same session, the stock had its day’s lowest price of $71.77, but rose to a high of $73.84. Over the last five days, the stock has lost -1.99%. Etsy Inc. shares have fallen nearly -39.63% since the year began. Nevertheless, the stocks have fallen -31.72% over the past one year. While a 52-week high of $149.91 was reached on 02/03/23, a 52-week low of $71.59 was recorded on 08/24/23. SMA at 50 days reached $86.90, while 200 days put it at $107.33. A total of 2.58 million shares were traded, compared to the trading of 2.98 million shares in the previous session.

Levels Of Support And Resistance For ETSY Stock

The 24-hour chart illustrates a support level at 71.44, which if violated will result in even more drops to 70.57. On the upside, there is a resistance level at 73.51. A further resistance level may holdings at 74.71. The Relative Strength Index (RSI) on the 14-day chart is 32.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.91%. Stochastics %K at 3.93% indicates the stock is a buying.

How much short interest is there in Etsy Inc.?

A steep rise in short interest was recorded in Etsy Inc. stocks on Aug 14, 2023, dropping by -3.07 million shares to a total of 8.4 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.47 million shares. There was a decline of -36.55%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.76% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.43.

Etsy Inc. [ETSY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,210,094 shares, or roughly 10.71% of the outstanding ETSY shares. In other words, the investor’s shares have fallen by -195,740 from its previous 13-F filing of 13405834.0. Additionally, Capital Research & Management Co increased 21.42% of its stake after which the total value it holdings stand at $815,410,888, while BlackRock Fund Advisors reduced -1.65% of its stake to hold $624.16 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 139,351 shares of Etsy Inc., while Wellington Management Co. LLP bought -4,155,166 shares. At present, ClearBridge Investments LLC is holding 3,119,007 shares valued at $317.05 million. Fidelity Management & Research Co owned 3,041,888 shares of the company at the time of its most recent 13F filing, worth $309.21 million.

According to FactSet, Etsy Inc.’s share price will average $110.81 in the next year, based on opinions of analysts polled by the firm. This is up nearly 52.19 percent from its previous closing price of $71.62. Analysts expect Etsy Inc. stock to reach the higher price of $170.00, while the lowest price estimate is $46.00. However, 32 analysts have rated ETSY stock as an Overweight in their predictions for 2023.


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