In November, the short interest in Etsy, Inc. (NASDAQ: ETSY) surged noticeably. As of November 15, there were 12,850,000 total shares, including 12,850,000 shares of short interest, an increase of 5.2% from the 12,210,000 shares as of October 31. Approximately 10.4% of the company’s stock is shorted. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is 4.0.
Additionally, CMO Ryan M. Scott sold 6,146 company stock on Monday, October 3. At an average price of $104, the shares were sold for a total price of $639,184.00. Following the sale, the chief marketing officer now owns 4,170 firm shares worth about $433,680. The SEC website provides access to a document that describes the transaction and is submitted to the SEC. Additionally, CMO Ryan M. Scott sold 6,146 company stock on Monday, October 3. At an average price of $104, the shares were sold for a total price of $639,184.00. Following the sale, the chief marketing officer now owns 4,170 firm shares worth about $433,680. The SEC website provides access to a document that describes the transaction and is submitted to the SEC. Josh Silverman, the CEO of the business, also sold 20,850 shares on September 7. The stock was sold for a total value of $2,207,181.00 at an average price of $105.86. As a result of the transaction, the chief executive officer now directly owns 102,707 company shares, valued at $10,872,563.02. The disclosure for this sale is available here. In the past quarter, insiders sold 241,901 company stock for a total of $25,527,994. Insiders of the business presently own 3.10 percent of the stock.
The NASDAQ ETSY rose $1.10 to $140.49 at noon on Friday. Compared to its usual trading volume of 3,340,857 shares, the firm had a trading volume of 2,831,463. The company’s 50-day moving average is $107.76, and its 200-day moving average is $98.53. The annual cost of Etsy ranges from $67.01 to $250.49. The company has quick, current, and debt-to-equity ratios of 4.10, 2.72, and 2.72, respectively.
Many hedge funds’ current ownership of the company’s stock has increased recently. Clearstead Advisors LLC boosted its stake in Etsy by 22.1% during the second quarter. Clearstead Advisors LLC now owns 524 shares of the specialty retailer’s stock, worth $38,000, following purchasing an additional 95 shares in the most recent quarter. Motley Fool Asset Management LLC grew its stake in Etsy by 3.5% during the second quarter. The specialty retailer’s stock was added to by Motley Fool Asset Management LLC in the most recent quarter, increasing its total stake to 2,913 shares, valued at $257,000. Utah Retirement Systems grew its stake in Etsy by 0.4% during the third quarter. Utah Retirement Systems now owns 22,692 shares of the specialty retailer’s stock, valued at $2,272,000, after acquiring an additional 100 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd. grew its holding on Etsy by 1.2% during the third quarter. After purchasing an additional 109 shares during the quarter, Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,260 shares of the specialty retailer’s stock, valued at $927,000. Finally, Hartford Investment Management Co. boosted its holding on Etsy during the second quarter by 0.9%. Hartford Investment Management Co. now owns 111 more shares of the specialty retailer, for a total of 12,071 shares, valued at $88,000. Hedge funds and other institutional investors hold 98.68% of the stock.
Etsy has been highlighted in several recent analyst reports. Jefferies Financial Group downgraded Etsy’s “buy” rating on October 6, and the company’s price goal was reduced from $140.00 to $138.00. Barclays started covering Etsy’s stock in a research note on Monday, August 15. They gave the company an “equal weight” rating and a $100 price target. In a research note released on Tuesday, August 16, Trust Financial increased their price objective for shares of Etsy from “hold” to “buy” and raised their “buy” rating from “hold” to “buy.” On Tuesday, November 1, Bank of America lowered their price target on Etsy shares from $120.00 to $110.00 in a research note.
Last but not least, in a research note published on Friday, November 4, StockNews.com downgraded shares of Etsy from a “hold” rating to a “sell” rating. The company has received buy recommendations from nine investing analysts, hold recommendations from eleven, and sell recommendations from one. According to information from Bloomberg, the company now has a consensus recommendation of “Hold” and an average target price of $116.55.
The business Etsy, Inc. runs an online marketplace. It sells handcrafted items like clothing, accessories, shoes, and wallets. It is divided into the following sections: Elo7, Reverb, Depop, and Etsy. The company is headquartered in New York, NY, founded in 2005 by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires.
