Investors Buy Large Volume of Call Options on Etsy (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) saw unusually large options trading activity on Monday. Investors acquired 23,241 call options on the company. This is an increase of 59% compared to the average daily volume of 14,621 call options.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 2,000 shares of company stock valued at $116,395. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its holdings in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares during the period. Larson Financial Group LLC raised its holdings in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Etsy during the 2nd quarter valued at $42,000. Finally, Principal Securities Inc. bought a new position in Etsy in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 1.7 %

Shares of NASDAQ:ETSY opened at $54.83 on Tuesday. Etsy has a 12-month low of $50.63 and a 12-month high of $89.58. The company has a market cap of $6.41 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97. The stock has a 50 day moving average of $56.54 and a 200 day moving average of $61.33.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. Equities research analysts predict that Etsy will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ETSY shares. Wedbush reiterated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Wells Fargo & Company dropped their target price on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.61.

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.