Etsy Inc (NASDAQ:ETSY) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 6,490,000 shares, a decline of 17.1% from the August 15th total of 7,830,000 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily volume of 3,695,200 shares, the days-to-cover ratio is currently 1.8 days.
ETSY stock traded down $1.68 during trading on Wednesday, reaching $109.32. 87,698 shares of the stock were exchanged, compared to its average volume of 3,746,548. Etsy has a twelve month low of $29.95 and a twelve month high of $141.41. The company has a market capitalization of $13.25 billion, a P/E ratio of 90.50, a price-to-earnings-growth ratio of 2.08 and a beta of 1.39. The stock has a 50 day simple moving average of $122.07 and a 200-day simple moving average of $85.80. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 1.63.
Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, August 5th. The specialty retailer reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.36. The business had revenue of $428.74 million for the quarter, compared to the consensus estimate of $334.37 million. Etsy had a return on equity of 35.91% and a net margin of 13.78%. Equities analysts predict that Etsy will post 2.01 EPS for the current year.
In other news, CEO Josh Silverman sold 80,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $109.16, for a total value of $8,732,800.00. Following the transaction, the chief executive officer now directly owns 80,000 shares of the company's stock, valued at approximately $8,732,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Simeone sold 18,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $97.53, for a total value of $1,755,540.00. Following the completion of the transaction, the insider now directly owns 15,468 shares in the company, valued at $1,508,594.04. The disclosure for this sale can be found here. Insiders have sold 370,578 shares of company stock worth $42,885,572 over the last ninety days. Company insiders own 3.80% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its holdings in Etsy by 77.8% in the 2nd quarter. Two Sigma Advisers LP now owns 2,111,700 shares of the specialty retailer's stock valued at $224,326,000 after purchasing an additional 924,200 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Etsy by 725.2% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 85,823 shares of the specialty retailer's stock valued at $9,116,000 after purchasing an additional 75,423 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Etsy by 6.1% in the 2nd quarter. Principal Financial Group Inc. now owns 372,134 shares of the specialty retailer's stock valued at $39,532,000 after purchasing an additional 21,289 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Etsy by 5.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,720 shares of the specialty retailer's stock valued at $502,000 after purchasing an additional 231 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Etsy by 5.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 34,565 shares of the specialty retailer's stock valued at $3,516,000 after purchasing an additional 1,934 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on ETSY. Goldman Sachs Group upped their target price on shares of Etsy from $88.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Etsy from a "hold" rating to a "buy" rating and set a $146.00 target price on the stock in a research report on Monday, August 10th. Loop Capital lifted their price target on shares of Etsy from $120.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank of Canada lifted their price target on shares of Etsy from $79.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group upgraded shares of Etsy from a "hold" rating to a "buy" rating and lifted their price target for the stock from $71.00 to $110.00 in a report on Wednesday, June 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company's stock. The company has a consensus rating of "Buy" and a consensus target price of $129.27.
Etsy Company Profile
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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