Etsy Inc. (ETSY) Sees Large Volume Increase
Shares of Etsy Inc. (NASDAQ:ETSY) saw unusually-high trading volume on Tuesday . Approximately 2,319,404 shares traded hands during trading, an increase of 40% from the previous session’s volume of 1,651,761 shares.The stock last traded at $11.91 and had previously closed at $11.86.
ETSY has been the subject of several analyst reports. Wedbush restated a “neutral” rating and set a $10.00 target price (up previously from $9.00) on shares of Etsy in a research report on Wednesday, May 4th. Zacks Investment Research downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Royal Bank Of Canada raised their target price on Etsy from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 4th. TheStreet started coverage on Etsy in a research report on Thursday, May 26th. They issued a “sell” rating for the company. Finally, Roth Capital reiterated a “sell” rating and issued a $6.00 price objective on shares of Etsy in a research report on Wednesday, April 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.77.
The stock’s market capitalization is $1.41 billion. The firm has a 50 day moving average price of $9.78 and a 200-day moving average price of $8.74.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.05. The company earned $85.35 million during the quarter, compared to analyst estimates of $80.55 million. Etsy’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Analysts forecast that Etsy Inc. will post $0.01 EPS for the current year.
In related news, CTO John Allspaw sold 206,312 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $10.00, for a total transaction of $2,063,120.00. Following the sale, the chief technology officer now owns 14,729 shares of the company’s stock, valued at $147,290. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick R. Wilson sold 200,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $8.27, for a total value of $1,654,000.00. Following the sale, the director now directly owns 822,062 shares in the company, valued at approximately $6,798,452.74. The disclosure for this sale can be found here.
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. Handmade goods are the foundation of its marketplace. The Company operates a platform for third-party sellers. The Company offers a mix of marketplace activities and services.
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