Etsy Sees Unusually Large Options Volume (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 44,048 call options on the company. This is an increase of 69% compared to the average volume of 26,077 call options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ETSY shares. Canaccord Genuity Group reduced their target price on shares of Etsy from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group reduced their target price on shares of Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Thursday, May 1st. Loop Capital reduced their target price on shares of Etsy from $40.00 to $37.00 and set a “sell” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus cut their price objective on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.87.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. The trade was a 40.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $58.77, for a total value of $88,155.00. Following the completion of the sale, the insider now owns 31,822 shares in the company, valued at approximately $1,870,178.94. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,418 shares of company stock valued at $11,234,192. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Versant Capital Management Inc lifted its stake in Etsy by 1,066.3% in the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer’s stock valued at $454,000 after buying an additional 8,797 shares during the last quarter. DJE Kapital AG purchased a new stake in Etsy in the 4th quarter valued at $983,000. Charles Schwab Investment Management Inc. raised its position in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after purchasing an additional 122,126 shares during the last quarter. JBGlobal.com LLC raised its position in Etsy by 68.2% in the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer’s stock valued at $606,000 after purchasing an additional 5,206 shares during the last quarter. Finally, Brooklyn FI LLC purchased a new stake in Etsy in the 4th quarter valued at $5,229,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Up 1.5%

Shares of ETSY traded up $0.83 during trading on Tuesday, reaching $54.72. 4,758,973 shares of the company traded hands, compared to its average volume of 4,190,923. Etsy has a twelve month low of $40.05 and a twelve month high of $66.81. The stock has a market cap of $5.71 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.80. The stock has a 50-day simple moving average of $49.30 and a 200-day simple moving average of $51.22.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. On average, equities research analysts predict that Etsy will post 2.57 EPS for the current year.

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.