Etsy (ETSY) Trading 23.7% Higher on Earnings Beat

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Shares of Etsy Inc (NASDAQ:ETSY) traded up 23.7% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $51.50 and last traded at $50.01. 13,728,938 shares changed hands during trading, an increase of 407% from the average session volume of 2,708,379 shares. The stock had previously closed at $40.43.

The specialty retailer reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.09. Etsy had a return on equity of 13.23% and a net margin of 17.52%. The company had revenue of $150.37 million for the quarter, compared to analyst estimates of $149.76 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 41.4% compared to the same quarter last year.

A number of equities research analysts have weighed in on the company. Loop Capital set a $57.00 price objective on Etsy and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada boosted their price target on Etsy from $45.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, November 2nd. KeyCorp boosted their price target on Etsy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus boosted their price target on Etsy from $37.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, August 7th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $45.96.

In related news, Director Frederick R. Wilson sold 22,062 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $45.48, for a total value of $1,003,379.76. Following the sale, the director now owns 23,487 shares of the company’s stock, valued at approximately $1,068,188.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Melissa Reiff sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $46.01, for a total value of $1,610,350.00. Following the completion of the sale, the director now directly owns 25,285 shares in the company, valued at approximately $1,163,362.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,062 shares of company stock worth $4,615,330. 2.80% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC purchased a new stake in Etsy in the 2nd quarter valued at approximately $102,000. Moneta Group Investment Advisors LLC acquired a new position in Etsy in the 2nd quarter valued at $146,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Etsy in the 3rd quarter valued at $149,000. PARK CIRCLE Co raised its holdings in Etsy by 100.0% in the 2nd quarter. PARK CIRCLE Co now owns 4,000 shares of the specialty retailer’s stock valued at $169,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Etsy in the 2nd quarter valued at $201,000. 88.26% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 131.61, a price-to-earnings-growth ratio of 6.84 and a beta of 0.61.

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Etsy Company Profile (NASDAQ: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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