Short Interest in Etsy Inc (ETSY) Grows By 22.1%
Etsy Inc (NASDAQ:ETSY) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 11,434,459 shares, a growth of 22.1% from the April 28th total of 9,363,652 shares. Approximately 14.2% of the shares of the stock are short sold. Based on an average daily volume of 4,896,259 shares, the days-to-cover ratio is currently 2.3 days.
Several equities analysts have recently weighed in on ETSY shares. Roth Capital set a $16.00 target price on Etsy and gave the company a “buy” rating in a research report on Monday, February 27th. Wedbush decreased their target price on Etsy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, February 24th. Loop Capital restated a “buy” rating and issued a $16.00 target price on shares of Etsy in a research report on Wednesday, March 22nd. Zacks Investment Research downgraded Etsy from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $14.00 target price on shares of Etsy in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Etsy has an average rating of “Hold” and a consensus target price of $13.61.
In other Etsy news, Director Frederick R. Wilson sold 100,009 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $10.21, for a total transaction of $1,021,091.89. Following the transaction, the director now owns 822,062 shares in the company, valued at $8,393,253.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ETSY. FNY Managed Accounts LLC acquired a new position in shares of Etsy during the first quarter worth $105,000. UBS Group AG raised its position in shares of Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares in the last quarter. Creative Planning raised its position in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock worth $128,000 after buying an additional 5,258 shares in the last quarter. Gideon Capital Advisors Inc. acquired a new position in shares of Etsy during the fourth quarter worth $142,000. Finally, Marathon Trading Investment Management LLC acquired a new position in shares of Etsy during the first quarter worth $174,000. 60.65% of the stock is currently owned by institutional investors.
Etsy (NASDAQ:ETSY) opened at 13.18 on Friday. Etsy has a 12 month low of $8.40 and a 12 month high of $16.05. The stock’s market cap is $1.46 billion. The company’s 50-day moving average price is $11.41 and its 200-day moving average price is $11.77.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Tuesday, May 2nd. The specialty retailer reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.05. Etsy had a negative return on equity of 1.69% and a negative net margin of 3.72%. The business had revenue of $96.89 million for the quarter, compared to analysts’ expectations of $98.64 million. Equities analysts forecast that Etsy will post $0.01 earnings per share for the current year.
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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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