Etsy, Inc. (NASDAQ:ETSY) Short Interest Up 8.1% in September

by · The Markets Daily

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut Etsy from a “neutral” rating to a “sell” rating and dropped their price target for the company from $70.00 to $45.00 in a research report on Tuesday. Finally, UBS Group lowered their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.36.

Read Our Latest Analysis on ETSY

Etsy Stock Down 3.5 %

Shares of Etsy stock traded down $1.86 during trading hours on Thursday, hitting $50.67. 2,349,167 shares of the company’s stock traded hands, compared to its average volume of 3,746,804. Etsy has a twelve month low of $48.07 and a twelve month high of $89.58. The stock has a 50 day simple moving average of $53.60 and a 200-day simple moving average of $59.49. The company has a market cap of $5.92 billion, a PE ratio of 22.99, a PEG ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $629.87 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Etsy’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Etsy will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,619 shares of company stock worth $300,670. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares during the last quarter. Renaissance Technologies LLC boosted its position in Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after acquiring an additional 734,200 shares during the period. Van ECK Associates Corp lifted its stake in Etsy by 14.3% during the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Etsy by 52.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after acquiring an additional 721,453 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Etsy by 76.2% during the second quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock valued at $69,685,000 after purchasing an additional 517,480 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Company Profile

(Get Free Report)

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.

See Also