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

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) was the recipient of some unusual options trading on Friday. Investors acquired 59,294 call options on the stock. This represents an increase of approximately 196% compared to the average daily volume of 20,062 call options.

Etsy Price Performance

Shares of NASDAQ:ETSY traded up $3.39 on Monday, reaching $58.74. The company's stock had a trading volume of 11,580,456 shares, compared to its average volume of 4,008,555. The stock's 50-day moving average is $46.15 and its two-hundred day moving average is $50.64. The stock has a market capitalization of $6.13 billion, a P/E ratio of 24.78, a PEG ratio of 2.57 and a beta of 1.78. Etsy has a 52-week low of $40.05 and a 52-week high of $66.93.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. Equities analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETSY shares. The Goldman Sachs Group cut their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Canaccord Genuity Group reduced their price target on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Evercore ISI reduced their target price on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of "Hold" and an average price target of $50.14.

Insider Activity at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $28,593.60. This trade represents a 70.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total transaction of $72,360.00. Following the completion of the transaction, the insider now directly owns 34,822 shares in the company, valued at $1,679,813.28. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,252 shares of company stock worth $2,397,942 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Etsy

Institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its holdings 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 buying an additional 181 shares during the period. True Wealth Design LLC boosted its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC acquired a new position in shares of Etsy during the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Etsy in the 4th quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Etsy in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

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.