Etsy Sees Unusually Large Options Volume (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) was the target of some unusual options trading on Wednesday. Investors acquired 20,563 call options on the stock. This represents an increase of approximately 39% compared to the average daily volume of 14,750 call options.

Etsy Price Performance

NASDAQ ETSY opened at $50.75 on Friday. Etsy has a fifty-two week low of $48.07 and a fifty-two week high of $89.58. The stock’s 50-day moving average is $53.53 and its two-hundred day moving average is $59.43. The firm has a market cap of $5.93 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data 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 the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. On average, equities analysts expect that Etsy will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETSY shares. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. UBS Group decreased their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday. Wolfe Research initiated coverage on shares of Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Etsy in a research report on Friday, August 23rd. Finally, Wedbush reissued a “neutral” rating and set a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.36.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy 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 value of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $30,257.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,619 shares of company stock worth $300,670 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ETSY. Sunbelt Securities Inc. grew its stake in shares of Etsy by 3,900.0% in the first 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. UMB Bank n.a. boosted its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC grew its position in Etsy by 1,576.5% in 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 during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Etsy during the 2nd quarter worth about $42,000. Finally, Headlands Technologies LLC acquired a new position in shares of Etsy during the first quarter valued at about $59,000. 99.53% of the stock is owned by institutional investors.

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.