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

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday. Loop Capital cut their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a report on Monday, August 12th. Finally, Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.61.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 2,000 shares of company stock valued at $116,395. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Etsy in the 4th quarter worth approximately $86,494,000. Marshall Wace LLP raised its position in Etsy by 304.2% during the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after buying an additional 1,055,296 shares during the last quarter. TD Asset Management Inc raised its position in Etsy by 260.2% during the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after acquiring an additional 721,454 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Up 1.8 %

Etsy stock traded up $0.95 during mid-day trading on Monday, reaching $54.86. 2,042,933 shares of the company’s stock traded hands, compared to its average volume of 3,785,773. Etsy has a 12-month low of $50.63 and a 12-month high of $89.58. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 5.10 and a beta of 1.97. The stock has a 50 day moving average of $56.67 and a two-hundred day moving average of $61.43.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. As a group, sell-side analysts forecast that Etsy will post 2.38 earnings per share 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.