Etsy Target of Unusually High Options Trading (NASDAQ:ETSY)

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETSY. Loop Capital lowered their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Wedbush reissued a “neutral” rating and set a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Stifel Nicolaus cut their target price on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI upgraded Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.61.

Etsy Trading Up 1.8 %

Shares of NASDAQ ETSY traded up $0.95 during trading on Monday, reaching $54.86. The company had a trading volume of 2,042,933 shares, compared to its average volume of 3,785,773. Etsy has a twelve month low of $50.63 and a twelve month high of $89.58. The stock has a market capitalization of $6.41 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97. The stock has a 50-day moving average price of $56.67 and a two-hundred day moving average price of $61.43.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million during 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 business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. On average, sell-side analysts predict that Etsy will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently added to or reduced their stakes in ETSY. Vanguard Group Inc. boosted its position in shares of Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after buying an additional 91,900 shares during the period. Capital International Investors boosted its position in shares of Etsy by 0.6% in the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares during the period. Van ECK Associates Corp boosted its position in shares of Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the period. Renaissance Technologies LLC boosted its position in shares of Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares during the period. Finally, Bares Capital Management Inc. boosted its position in shares of Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after buying an additional 36,623 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.