Etsy Inc (ETSY) Short Interest Up 17.5% in February

Etsy Inc (NASDAQ:ETSY) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 10,543,441 shares, an increase of 17.5% from the February 15th total of 8,970,274 shares. Based on an average daily volume of 7,122,549 shares, the days-to-cover ratio is currently 1.5 days. Approximately 8.9% of the company’s stock are sold short.

Shares of ETSY opened at $69.91 on Friday. The stock has a market capitalization of $8.39 billion, a PE ratio of 114.61, a P/E/G ratio of 7.58 and a beta of 1.04. Etsy has a fifty-two week low of $26.54 and a fifty-two week high of $73.35. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.07 and a current ratio of 6.07.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Monday, February 25th. The specialty retailer reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $194.77 million. Etsy had a net margin of 12.84% and a return on equity of 20.00%. The company’s revenue was up 46.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Etsy will post 0.69 EPS for the current fiscal year.

Several research firms have issued reports on ETSY. Deutsche Bank began coverage on shares of Etsy in a research report on Tuesday, January 29th. They set a “buy” rating and a $64.00 price target on the stock. Loop Capital set a $70.00 price target on shares of Etsy and gave the stock a “buy” rating in a research report on Monday, December 17th. BTIG Research upped their price target on shares of Etsy to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Roth Capital upped their price target on shares of Etsy from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Finally, TheStreet raised shares of Etsy from a “c+” rating to a “b” rating in a research report on Monday, November 19th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.29.

In other Etsy news, Director M Michele Burns sold 30,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $70.58, for a total transaction of $2,117,400.00. Following the sale, the director now directly owns 109,265 shares of the company’s stock, valued at $7,711,923.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Fisher sold 2,604 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $69.36, for a total transaction of $180,613.44. The disclosure for this sale can be found here. In the last three months, insiders sold 121,050 shares of company stock worth $8,048,323. 2.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ETSY. Alliancebernstein L.P. grew its stake in shares of Etsy by 168.7% in the third quarter. Alliancebernstein L.P. now owns 4,428,047 shares of the specialty retailer’s stock valued at $227,513,000 after acquiring an additional 2,780,297 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Etsy by 265.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock valued at $113,796,000 after acquiring an additional 1,736,734 shares in the last quarter. Norges Bank acquired a new position in shares of Etsy in the fourth quarter valued at about $54,602,000. Capital World Investors acquired a new position in shares of Etsy in the third quarter valued at about $54,463,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of Etsy in the third quarter valued at about $43,985,000. 93.22% of the stock is currently owned by institutional investors.

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About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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