Etsy Target of Unusually Large Options Trading (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock investors purchased 38,129 call options on the stock. This represents an increase of approximately 47% compared to the average daily volume of 25,978 call options.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares in the company, valued at approximately $1,781,318.88. This represents a 4.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Josh Silverman sold 151,666 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the sale, the chief executive officer owned 107,809 shares of the company's stock, valued at approximately $6,218,423.12. This represents a 58.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,298 shares of company stock worth $20,256,039. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in Etsy in the fourth quarter worth about $218,000. Natixis Advisors LLC bought a new stake in Etsy in the fourth quarter worth about $606,000. Teacher Retirement System of Texas raised its holdings in Etsy by 50.7% during the 4th quarter. Teacher Retirement System of Texas now owns 32,442 shares of the specialty retailer's stock worth $1,716,000 after buying an additional 10,920 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Etsy during the 4th quarter worth about $1,269,000. Finally, Fox Run Management L.L.C. raised its holdings in Etsy by 49.2% during the 4th quarter. Fox Run Management L.L.C. now owns 9,146 shares of the specialty retailer's stock worth $484,000 after buying an additional 3,016 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the subject of a number of research analyst reports. Loop Capital cut their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Truist Financial increased their price target on shares of Etsy from $55.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Bank of America cut their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein increased their price target on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $51.54.

Etsy Price Performance

ETSY stock traded up $0.29 during midday trading on Monday, reaching $62.75. 4,412,459 shares of the company's stock traded hands, compared to its average volume of 4,713,922. The company has a market capitalization of $6.54 billion, a P/E ratio of 44.82, a PEG ratio of 3.41 and a beta of 1.74. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $66.31. The business has a 50-day moving average price of $55.59 and a two-hundred day moving average price of $51.17.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $642.22 million. During the same period last year, the firm posted $0.48 EPS. The business's revenue was up .8% compared to the same quarter last year. As a group, research analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

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.