Investors Purchase High Volume of Etsy Call Options (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) was the recipient of unusually large options trading activity on Friday. Stock traders purchased 59,294 call options on the stock. This is an increase of approximately 196% compared to the average volume of 20,062 call options.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $28,593.60. This trade represents a 70.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now directly owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,752 shares of company stock valued at $2,473,662 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several hedge funds have recently bought and sold shares of ETSY. Lindbrook Capital LLC lifted its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC acquired a new stake in shares of Etsy in the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the 4th quarter worth approximately $34,000. Finally, Allworth Financial LP lifted its stake in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 248 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ETSY has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Evercore ISI decreased their price objective on shares of Etsy from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald raised their price objective on shares of Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Canaccord Genuity Group decreased their price objective on shares of Etsy from $76.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Barclays decreased their price objective on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.14.

Etsy Stock Up 3.3%

Shares of NASDAQ:ETSY opened at $54.73 on Friday. The company has a market cap of $5.71 billion, a PE ratio of 23.09, a P/E/G ratio of 2.57 and a beta of 1.78. The company’s 50-day moving average price is $46.15 and its 200 day moving average price is $50.64. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $66.93.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, equities analysts anticipate that Etsy will post 2.57 EPS for the current 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.