Etsy, Inc. (NASDAQ:ETSY) Short Interest Up 6.3% in June

Etsy, Inc. (NASDAQ:ETSY) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 15,360,000 shares, an increase of 6.3% from the May 31st total of 14,450,000 shares. Based on an average trading volume of 3,280,000 shares, the days-to-cover ratio is currently 4.7 days. Currently, 13.3% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors have recently modified their holdings of the company. CVA Family Office LLC bought a new stake in Etsy during the 4th quarter valued at $27,000. Sunbelt Securities Inc. raised its holdings in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares in the last quarter. Larson Financial Group LLC boosted its stake 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 purchasing an additional 536 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in Etsy during the 4th quarter worth approximately $41,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ETSY shares. Citigroup lowered their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Truist Financial cut their target price on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays cut their price target on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.88.

Etsy Trading Up 2.2 %

Shares of NASDAQ ETSY opened at $58.26 on Wednesday. The firm has a market capitalization of $6.81 billion, a P/E ratio of 26.60, a P/E/G ratio of 4.81 and a beta of 2.02. The firm’s 50-day moving average price is $62.54 and its 200-day moving average price is $68.84. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Etsy will post 2.49 EPS for the current year.

About Etsy

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.