Investors Buy Large Volume of Call Options on Etsy (ETSY)
Etsy Inc (NASDAQ:ETSY) was the recipient of some unusual options trading activity on Monday. Stock investors purchased 15,740 call options on the company. This is an increase of approximately 598% compared to the average daily volume of 2,254 call options.
In other news, Director Frederick R. Wilson sold 87,938 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the sale, the director now owns 822,062 shares of the company’s stock, valued at approximately $13,350,286.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its stake in Etsy by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 1,092 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Etsy by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock worth $241,000 after purchasing an additional 1,330 shares in the last quarter. Amalgamated Bank lifted its stake in Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after purchasing an additional 1,920 shares in the last quarter. Royal Bank of Canada lifted its stake in Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 2,049 shares in the last quarter. Finally, UBS Group AG lifted its stake in Etsy by 30.7% in the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after purchasing an additional 2,373 shares in the last quarter. 74.42% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on ETSY. BidaskClub raised shares of Etsy from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Stifel Nicolaus reissued a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Ifs Securities reaffirmed an “outperform” rating and issued a $22.00 target price (up previously from $18.00) on shares of Etsy in a report on Tuesday, November 7th. Finally, Royal Bank of Canada upped their target price on shares of Etsy from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Etsy presently has a consensus rating of “Hold” and a consensus target price of $15.69.
Etsy (NASDAQ ETSY) opened at $20.16 on Thursday. The firm has a market cap of $2,425.77, a price-to-earnings ratio of 79.72, a P/E/G ratio of 3.07 and a beta of 1.15. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.19. Etsy has a 1-year low of $9.41 and a 1-year high of $20.45.
Etsy declared that its Board of Directors has authorized a stock repurchase program on Friday, November 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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