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

Etsy, Inc. (NASDAQ:ETSY) saw some unusual options trading activity on Tuesday. Stock investors purchased 44,048 call options on the company. This is an increase of 69% compared to the typical volume of 26,077 call options.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ETSY shares. Stifel Nicolaus decreased their price target on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the stock a “hold” rating in a research report on Monday, April 14th. UBS Group decreased their price target on shares of Etsy from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Arete cut shares of Etsy from a “neutral” rating to a “sell” rating and set a $43.00 price target for the company. in a research report on Wednesday, June 11th. Finally, Arete Research raised shares of Etsy to a “strong sell” rating in a research report on Wednesday, June 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.87.

Etsy Trading Up 1.2%

Shares of NASDAQ:ETSY opened at $54.53 on Wednesday. The firm’s 50 day moving average is $49.51 and its two-hundred day moving average is $51.24. Etsy has a 52 week low of $40.05 and a 52 week high of $66.81. The firm has a market capitalization of $5.69 billion, a P/E ratio of 38.95, a PEG ratio of 2.97 and a beta of 1.80.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. Analysts predict that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the sale, the chief executive officer now directly owns 107,809 shares of the company’s stock, valued at approximately $6,218,423.12. The trade was a 58.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.07, for a total transaction of $64,605.00. Following the completion of the sale, the insider now directly owns 33,322 shares of the company’s stock, valued at $1,435,178.54. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,418 shares of company stock valued at $11,234,192. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Etsy

A number of large investors have recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC boosted 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 in the last quarter. True Wealth Design LLC lifted its position in 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 buying an additional 292 shares in the last quarter. Hurley Capital LLC purchased a new stake in Etsy in the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the 4th quarter worth approximately $34,000. Finally, Allworth Financial LP lifted its position in 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 buying an additional 248 shares in the last quarter. 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.