Stock Traders Purchase High Volume of Call Options on Etsy (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) was the target of unusually large options trading on Monday. Traders bought 23,241 call options on the company. This represents an increase of approximately 59% compared to the typical volume of 14,621 call options.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $1,001,798.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 2,000 shares of company stock worth $116,395. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors have recently bought and sold shares of ETSY. Sunbelt Securities Inc. boosted its position in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Etsy during the 2nd quarter worth about $42,000. Finally, Principal Securities Inc. bought a new position in shares of Etsy during the 4th quarter worth about $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $55.02 on Wednesday. The company has a fifty day moving average of $56.33 and a 200-day moving average of $61.21. The company has a market capitalization of $6.43 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97. Etsy has a 52-week low of $50.63 and a 52-week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. On average, equities analysts forecast that Etsy will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ETSY shares. Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus cut their price target on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Piper Sandler reiterated a “neutral” rating and issued a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Finally, Wolfe Research assumed coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target 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.