Etsy Inc (NASDAQ:ETSY) was the recipient of some unusual options trading activity on Wednesday. Investors bought 5,193 put options on the stock. This represents an increase of approximately 2,851% compared to the average daily volume of 176 put options.
Several analysts recently commented on ETSY shares. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, September 15th. BidaskClub upgraded shares of Etsy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. KeyCorp began coverage on shares of Etsy in a research report on Wednesday, December 20th. They set an “overweight” rating for the company. Stifel Nicolaus restated a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Etsy from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.69.
In related news, Director Frederick R. Wilson sold 87,938 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $16.24, for a total value of $1,428,113.12. Following the completion of the sale, the director now owns 822,062 shares in the company, valued at $13,350,286.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.
Etsy (NASDAQ:ETSY) opened at $20.25 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market cap of $2,460.00 and a P/E ratio of 168.75. Etsy has a 52-week low of $9.41 and a 52-week high of $21.86.
Etsy declared that its board has authorized a share repurchase plan on Friday, November 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors 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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