Etsy, Inc. (NASDAQ:ETSY) Short Interest Update

Etsy, Inc. (NASDAQ:ETSY) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 16,990,000 shares, an increase of 8.1% from the September 15th total of 15,710,000 shares. Based on an average trading volume of 4,030,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 15.0% of the shares of the company are sold short.

Etsy Trading Down 3.4 %

ETSY traded down $1.78 during trading on Thursday, hitting $50.75. The stock had a trading volume of 3,718,096 shares, compared to its average volume of 3,753,602. Etsy has a 12 month low of $48.07 and a 12 month high of $89.58. The company has a 50 day simple moving average of $53.53 and a 200-day simple moving average of $59.43. The firm has a market cap of $5.93 billion, a PE ratio of 23.17, a P/E/G ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Etsy will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sunbelt Securities Inc. lifted its stake in shares of Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the period. UMB Bank n.a. boosted its holdings in Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy in the 2nd quarter worth approximately $42,000. Finally, Headlands Technologies LLC bought a new position in shares of Etsy during the 1st quarter worth approximately $59,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETSY shares. Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Wedbush reaffirmed a “neutral” rating and set a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. UBS Group reduced their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Etsy has an average rating of “Hold” and an average price target of $69.36.

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.