Traders Buy Large Volume of Call Options on Etsy (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) was the target of unusually large options trading on Wednesday. Stock investors purchased 20,563 call options on the company. This is an increase of 39% compared to the typical volume of 14,750 call options.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at $1,125,083.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock valued at $300,670 in the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wynn Capital LLC acquired a new position in Etsy in the third quarter valued at approximately $205,000. UMB Bank n.a. boosted its holdings in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of Etsy in the third quarter valued at approximately $279,000. Diversified Trust Co boosted its holdings in shares of Etsy by 58.8% in the third quarter. Diversified Trust Co now owns 10,257 shares of the specialty retailer’s stock valued at $570,000 after acquiring an additional 3,798 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Etsy in the second quarter valued at approximately $967,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ETSY shares. Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Finally, UBS Group cut their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Etsy has a consensus rating of “Hold” and a consensus target price of $69.36.

Etsy Stock Up 2.4 %

Shares of ETSY opened at $52.53 on Thursday. The stock has a 50 day moving average price of $53.60 and a 200 day moving average price of $59.49. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97. Etsy has a 52-week low of $48.07 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 analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. On average, equities analysts anticipate that Etsy will post 2.38 EPS for the current fiscal 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.