Traders Buy Large Volume of Etsy Call Options (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) saw some unusual options trading on Tuesday. Traders bought 44,048 call options on the company. This represents an increase of approximately 69% compared to the typical volume of 26,077 call options.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $58.77, for a total transaction of $88,155.00. Following the completion of the sale, the insider now owns 31,822 shares in the company, valued at approximately $1,870,178.94. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 151,666 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,418 shares of company stock worth $11,234,192. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

Several institutional investors have recently modified their holdings of ETSY. Lindbrook Capital LLC lifted its stake in shares of 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 valued at $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Etsy in the 4th quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the 4th quarter valued at 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 valued at $35,000 after purchasing an additional 248 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ETSY. JPMorgan Chase & Co. upped their price target on Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Barclays reduced their price target on Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Bank of America reduced their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Loop Capital reduced their price target on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI reduced their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and an average price target of $49.87.

Etsy Stock Up 1.6%

Etsy stock traded up $0.86 during midday trading on Friday, reaching $56.16. 6,411,911 shares of the stock traded hands, compared to its average volume of 4,235,402. The stock's fifty day moving average is $50.22 and its 200-day moving average is $51.26. Etsy has a 12 month low of $40.05 and a 12 month high of $66.81. The stock has a market cap of $5.86 billion, a P/E ratio of 40.11, a PEG ratio of 3.04 and a beta of 1.80.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same period in the previous year, the company posted $0.48 earnings per share. Etsy's quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts predict that Etsy will post 2.57 EPS for the current fiscal 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.