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

Etsy, Inc. (NASDAQ:ETSY) was the target of unusually large options trading on Tuesday. Investors purchased 25,684 call options on the stock. This is an increase of 51% compared to the typical volume of 17,047 call options.

Analyst Ratings Changes

Several equities research analysts recently commented on ETSY shares. Morgan Stanley decreased their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Canaccord Genuity Group dropped their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald cut their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and decreased their price target for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Performance

Etsy stock opened at $46.87 on Wednesday. The stock has a market cap of $5.02 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy has a fifty-two week low of $45.85 and a fifty-two week high of $73.25. The firm’s 50-day simple moving average is $52.95 and its 200 day simple moving average is $53.43.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, analysts predict that Etsy will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $1,286,445 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in ETSY. Lindbrook Capital LLC increased its holdings in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares during the last quarter. True Wealth Design LLC grew its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC purchased a new stake in shares of Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Etsy in the 4th quarter worth approximately $37,000. 99.53% of the stock is currently 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.