Etsy, Inc. (NASDAQ:ETSY – Get Free Report) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 14,600,000 shares, a growth of 8.3% from the October 31st total of 13,480,000 shares. Approximately 12.3% of the company’s shares are sold short. Based on an average daily volume of 3,560,000 shares, the short-interest ratio is currently 4.1 days.
Etsy Price Performance
NASDAQ ETSY opened at $82.04 on Friday. The company has a fifty day moving average price of $66.40 and a 200-day moving average price of $77.51. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 8.13 and a beta of 2.02. Etsy has a 1 year low of $58.20 and a 1 year high of $149.91.
Etsy (NASDAQ:ETSY – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.15. The business had revenue of $636.30 million during the quarter, compared to the consensus estimate of $629.75 million. Etsy had a net margin of 12.30% and a negative return on equity of 71.32%. On average, research analysts anticipate that Etsy will post 2.75 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Etsy from $74.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Guggenheim cut their target price on Etsy from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Wedbush lowered their target price on Etsy from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Jefferies Financial Group cut their price target on Etsy from $70.00 to $50.00 and set an “underperform” rating on the stock in a report on Tuesday, October 10th. Finally, Stifel Nicolaus initiated coverage on shares of Etsy in a research report on Tuesday, October 17th. They set a “hold” rating and a $64.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.32.
Insider Activity at Etsy
In other Etsy news, CEO Josh Silverman sold 10,425 shares of Etsy stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $62.56, for a total transaction of $652,188.00. Following the transaction, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at approximately $918,005.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Etsy news, CMO Ryan M. Scott sold 1,043 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $62.91, for a total transaction of $65,615.13. Following the completion of the transaction, the chief marketing officer now owns 7,735 shares in the company, valued at approximately $486,608.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 10,425 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $62.56, for a total transaction of $652,188.00. Following the completion of the transaction, the chief executive officer now owns 14,674 shares in the company, valued at approximately $918,005.44. The disclosure for this sale can be found here. Insiders sold 44,413 shares of company stock worth $2,819,717 over the last three months. Company insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Geode Capital Management LLC boosted its holdings in shares of Etsy by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,698,644 shares of the specialty retailer’s stock worth $227,749,000 after buying an additional 28,312 shares during the last quarter. AE Wealth Management LLC increased its stake in shares of Etsy by 1.9% during the 2nd quarter. AE Wealth Management LLC now owns 12,682 shares of the specialty retailer’s stock worth $1,073,000 after purchasing an additional 232 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in shares of Etsy in the 1st quarter worth approximately $418,000. Yousif Capital Management LLC lifted its stake in Etsy by 2.4% in the second quarter. Yousif Capital Management LLC now owns 17,721 shares of the specialty retailer’s stock valued at $1,499,000 after purchasing an additional 420 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in Etsy during the first quarter valued at $209,000. Hedge funds and other institutional investors own 92.98% of the company’s stock.
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.