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

Etsy, Inc. (NASDAQ:ETSY) was the target of unusually large options trading activity on Tuesday. Traders bought 25,684 call options on the company. This represents an increase of 51% compared to the average daily volume of 17,047 call options.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC grew its position in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares in the last quarter. 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 valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Etsy during the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Etsy during the fourth quarter worth about $34,000. Finally, Summit Securities Group LLC bought a new position in shares of Etsy in the fourth quarter worth approximately $37,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY traded down $1.81 during trading hours on Tuesday, hitting $46.84. The company had a trading volume of 3,162,796 shares, compared to its average volume of 3,607,980. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.57 and a beta of 2.23. Etsy has a 52 week low of $45.85 and a 52 week high of $73.25. The firm has a 50 day simple moving average of $53.17 and a 200 day simple moving average of $53.53.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. On average, research analysts forecast that Etsy will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald decreased their price target on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. UBS Group cut their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Truist Financial decreased their price target on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Loop Capital lowered their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.78.

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.