Investors Buy Large Volume of Call Options on Etsy (NYSE:ETSY)

Etsy Inc (NYSE:ETSY) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 46,960 call options on the company. This is an increase of approximately 517% compared to the typical daily volume of 7,615 call options.

Insider Transactions at Etsy

In other Etsy news, insider Josh Silverman sold 6,294 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $84.00, for a total transaction of $528,696.00. Following the transaction, the insider directly owned 249,559 shares of the company’s stock, valued at $20,962,956. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 1,564 shares of Etsy stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $85.88, for a total transaction of $134,316.32. Following the completion of the sale, the chief financial officer owned 11,357 shares in the company, valued at approximately $975,339.16. This trade represents a 12.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 584,967 shares of company stock worth $43,908,631 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ETSY. EFG International AG acquired a new position in Etsy during the fourth quarter worth $33,000. Global Retirement Partners LLC purchased a new position in Etsy in the 2nd quarter valued at approximately $34,000. Blue Trust Inc. increased its position in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. Danske Bank A S acquired a new stake in shares of Etsy in the third quarter valued at $66,000. Finally, Federation des caisses Desjardins du Quebec raised its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of research reports. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Citigroup boosted their price objective on Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. President Capital raised Etsy from a “neutral” rating to a “buy” rating and increased their target price for the company from $57.00 to $91.00 in a report on Thursday, June 25th. Cantor Fitzgerald lifted their price target on Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, UBS Group boosted their price target on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $84.68.

Etsy Trading Up 1.4%

NYSE ETSY traded up $1.16 on Thursday, reaching $82.90. 4,000,014 shares of the company were exchanged, compared to its average volume of 3,262,447. The business’s fifty day moving average price is $80.46 and its 200 day moving average price is $65.93. The stock has a market capitalization of $7.87 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 4.08 and a beta of 1.84. Etsy has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Etsy will post 3.94 earnings per share for the current year.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.