Etsy, Inc. (NASDAQ:ETSY) Short Interest Up 8.1% in September

Etsy, Inc. (NASDAQ:ETSY) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 16,990,000 shares, a growth of 8.1% from the September 15th total of 15,710,000 shares. Approximately 15.0% of the company’s stock are short sold. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is currently 4.2 days.

Wall Street Analyst Weigh In

ETSY has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $56.00 price target on shares of Etsy in a research note on Friday, August 23rd. Loop Capital decreased their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and set a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Wells Fargo & Company decreased their price objective on Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Etsy in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.36.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock valued at $300,670 over the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of ETSY. MCF Advisors LLC increased its stake in Etsy by 23,542.9% in the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after purchasing an additional 3,296 shares during the period. TD Asset Management Inc increased its stake in shares of Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after buying an additional 221,275 shares during the period. Diversified Trust Co raised its holdings in Etsy by 11.5% during the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after buying an additional 668 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Etsy by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after buying an additional 16,458 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Etsy by 184.3% in the 1st quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock worth $3,856,000 after acquiring an additional 36,372 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

ETSY traded down $1.78 during midday trading on Thursday, hitting $50.75. The stock had a trading volume of 3,718,096 shares, compared to its average volume of 3,753,602. The company has a market cap of $5.93 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97. Etsy has a 1 year low of $48.07 and a 1 year high of $89.58. The business has a fifty day moving average of $53.53 and a 200 day moving average of $59.43.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. During the same quarter in the previous year, the business earned $0.83 EPS. Etsy’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy will post 2.38 earnings per share for the current year.

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.