Etsy (NASDAQ:ETSY) Sees Unusually-High Trading Volume - Still a Buy?

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 3,658,628 shares were traded during trading, a decline of 11% from the previous session's volume of 4,104,927 shares.The stock last traded at $58.30 and had previously closed at $60.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Arete Research raised shares of Etsy to a "strong sell" rating in a research report on Wednesday. B. Riley dropped their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Etsy from $42.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Wednesday, April 30th. Finally, Arete lowered Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price objective for the company. in a report on Wednesday. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Etsy currently has an average rating of "Hold" and a consensus price target of $50.17.

Etsy Price Performance

The company has a market cap of $5.84 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 2.57 and a beta of 1.80. The firm has a fifty day simple moving average of $48.73 and a 200 day simple moving average of $51.26.

Etsy (NASDAQ:ETSY - Get Free Report) 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 firm had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $58.77, for a total value of $88,155.00. Following the sale, the insider now owns 31,822 shares in the company, valued at approximately $1,870,178.94. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the company'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 transaction, the insider now owns 592 shares of the company's stock, valued at approximately $28,593.60. The trade was a 70.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,418 shares of company stock worth $11,234,192 over the last ninety days. Company insiders own 2.80% of the company's stock.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Lindbrook Capital LLC raised its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after buying an additional 181 shares during the last quarter. True Wealth Design LLC increased its position in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC bought a new position in Etsy in the fourth quarter worth $37,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.