Etsy, Inc. (NASDAQ:ETSY) Short Interest Up 6.3% in June

Etsy, Inc. (NASDAQ:ETSY) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 15,360,000 shares, a growth of 6.3% from the May 31st total of 14,450,000 shares. Currently, 13.3% of the shares of the company are short sold. Based on an average daily volume of 3,280,000 shares, the short-interest ratio is currently 4.7 days.

Etsy Trading Up 2.2 %

Shares of NASDAQ ETSY opened at $58.26 on Wednesday. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The company has a 50-day moving average of $62.54 and a two-hundred day moving average of $68.84. The company has a market cap of $6.81 billion, a PE ratio of 26.60, a P/E/G ratio of 4.81 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Etsy will post 2.49 earnings per share for the current year.

Insider Transactions at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Polen Capital Management LLC raised its holdings in Etsy by 83.3% during the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after purchasing an additional 15,598 shares during the last quarter. MCF Advisors LLC boosted its stake in Etsy by 23,542.9% in the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after acquiring an additional 3,296 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in Etsy in the fourth quarter valued at approximately $267,000. Artisan Partners Limited Partnership grew its holdings in Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after acquiring an additional 30,561 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of Etsy during the 4th quarter valued at $503,000. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETSY shares. Canaccord Genuity Group dropped their target price on shares of Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Loop Capital lowered shares of Etsy from a “hold” rating to a “sell” rating and cut their price objective for the company from $70.00 to $50.00 in a research report on Thursday, May 2nd. Guggenheim decreased their target price on Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. BTIG Research cut their price target on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Oppenheimer lowered their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.88.

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.