Etsy Sees Unusually Large Options Volume (NASDAQ:ETSY)

Key Points

• Etsy, Inc. experienced a **53% increase** in call options trading volume, with **48,274 call options** purchased on Thursday, compared to its typical daily volume of **31,591.**
• The company reported earnings of **$0.25 per share**, missing the consensus estimate by **$0.29**, but had a revenue of **$672.66 million**, exceeding analysts' expectations.
• Institutional investors dominate Etsy's ownership, holding **99.53%** of the stock, with significant increases in share positions observed among several firms in the first quarter.

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock traders purchased 48,274 call options on the stock. This is an increase of 53% compared to the typical daily volume of 31,591 call options.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETSY. Needham & Company LLC raised their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Cantor Fitzgerald raised their price target on shares of Etsy from $52.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Citizens Jmp upgraded shares of Etsy to a "hold" rating in a research note on Thursday, July 10th. Stifel Nicolaus increased their price objective on shares of Etsy from $45.00 to $66.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Finally, Canaccord Genuity Group set a $76.00 target price on shares of Etsy in a report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $57.80.

Etsy Price Performance

ETSY stock traded up $3.31 during midday trading on Thursday, hitting $61.13. 2,766,044 shares of the stock traded hands, compared to its average volume of 4,930,556. Etsy has a 1-year low of $40.05 and a 1-year high of $70.57. The stock's fifty day simple moving average is $58.83 and its 200-day simple moving average is $52.42. The firm has a market cap of $6.06 billion, a P/E ratio of 49.41, a PEG ratio of 3.57 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Etsy will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Goyal Kruti Patel sold 11,944 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the completion of the sale, the insider directly owned 47,529 shares in the company, valued at approximately $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Melissa Reiff sold 6,909 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $58.89, for a total value of $406,871.01. Following the completion of the sale, the director directly owned 16,424 shares of the company's stock, valued at approximately $967,209.36. This represents a 29.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,482 shares of company stock valued at $19,130,691. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of Etsy

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of Etsy by 1,066.3% during the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after buying an additional 8,797 shares in the last quarter. Cooper Financial Group raised its position in Etsy by 31.3% during the first quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock worth $895,000 after acquiring an additional 4,523 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Etsy during the first quarter valued at $288,000. Brooklyn FI LLC acquired a new stake in shares of Etsy in the fourth quarter valued at about $5,229,000. Finally, JBGlobal.com LLC increased its stake in shares of Etsy by 68.2% during the first quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after purchasing an additional 5,206 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.