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Stock Traders Purchase High Volume of Call Options on Etsy (NASDAQ:ETSY)

Etsy logo with Retail/Wholesale background

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) was the target of some unusual options trading on Friday. Traders bought 59,294 call options on the company. This is an increase of 196% compared to the average volume of 20,062 call options.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $28,593.60. The trade was a 70.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,252 shares of company stock valued at $2,397,942 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after purchasing an additional 56,772 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Etsy by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after purchasing an additional 235,550 shares during the period. AQR Capital Management LLC boosted its holdings in Etsy by 423.7% during the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock worth $218,890,000 after buying an additional 3,768,787 shares in the last quarter. Van ECK Associates Corp grew its position in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after buying an additional 522,111 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after buying an additional 1,486,142 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETSY shares. B. Riley lowered their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald lifted their price target on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Piper Sandler decreased their target price on Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Citigroup dropped their price target on Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Four investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.14.

Check Out Our Latest Stock Analysis on ETSY

Etsy Stock Up 2.5%

Shares of ETSY traded up $1.46 during mid-day trading on Tuesday, hitting $60.20. 6,013,882 shares of the company traded hands, compared to its average volume of 4,016,672. The business has a 50 day moving average of $46.39 and a 200 day moving average of $50.70. The company has a market capitalization of $6.28 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. Etsy has a 1-year low of $40.05 and a 1-year high of $66.93.

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

About Etsy

(Get Free Report)

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.

Further Reading

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