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

Etsy, Inc. (NASDAQ:ETSY) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 13,480,000 shares, a growth of 5.6% from the October 15th total of 12,760,000 shares. Based on an average trading volume of 3,570,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 11.4% of the shares of the company are short sold.

Insider Buying and Selling at Etsy

In other news, Director Marla J. Blow sold 600 shares of Etsy stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $73.11, for a total transaction of $43,866.00. Following the completion of the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at approximately $240,458.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Etsy news, CEO Josh Silverman sold 10,425 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $62.26, for a total transaction of $649,060.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,440,696.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marla J. Blow sold 600 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $73.11, for a total value of $43,866.00. Following the completion of the sale, the director now owns 3,289 shares of the company’s stock, valued at $240,458.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,438 shares of company stock valued at $3,638,057. 2.60% of the stock is owned by company insiders.

Institutional Trading of Etsy

Several institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co purchased a new position in shares of Etsy during the third quarter worth $401,000. Creative Planning lifted its stake in Etsy by 10.1% during the 3rd quarter. Creative Planning now owns 11,670 shares of the specialty retailer’s stock worth $754,000 after acquiring an additional 1,070 shares in the last quarter. Spouting Rock Asset Management LLC boosted its holdings in Etsy by 24.9% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 4,078 shares of the specialty retailer’s stock valued at $263,000 after acquiring an additional 814 shares during the period. Penserra Capital Management LLC grew its position in Etsy by 14.4% in the 3rd quarter. Penserra Capital Management LLC now owns 49,291 shares of the specialty retailer’s stock valued at $3,181,000 after acquiring an additional 6,209 shares in the last quarter. Finally, Dana Investment Advisors Inc. purchased a new stake in Etsy during the third quarter worth about $513,000. Institutional investors and hedge funds own 92.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James reduced their price objective on shares of Etsy from $115.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Evercore ISI decreased their price target on shares of Etsy from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 26th. Piper Sandler cut their price objective on Etsy from $126.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Citigroup downgraded Etsy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $114.00 to $67.00 in a research report on Wednesday, October 25th. Finally, StockNews.com assumed coverage on Etsy in a research report on Thursday, October 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $89.32.

Etsy Stock Up 3.4 %

Shares of ETSY traded up $2.38 during trading on Friday, reaching $72.53. 3,815,263 shares of the company traded hands, compared to its average volume of 3,404,349. The stock has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $79.12. The stock has a market cap of $8.69 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 7.74 and a beta of 2.02. Etsy has a twelve month low of $58.20 and a twelve month high of $149.91.

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.