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Unusual Put Option Trade in Etsy Worth $10,486K

On May 24, 2023 at 13:34:09 ET an unusually large $10,486.00K block of Put contracts in Etsy (ETSY) was sold, with a strike price of $125.00 / share, expiring in 23 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.99 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in ETSY options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1494 funds or institutions reporting positions in Etsy. This is a decrease of 37 owner(s) or 2.42% in the last quarter. Average portfolio weight of all funds dedicated to ETSY is 0.26%, a decrease of 10.34%. Total shares owned by institutions decreased in the last three months by 0.61% to 144,582K shares. The put/call ratio of ETSY is 0.84, indicating a bullish outlook.

Analyst Price Forecast Suggests 42.63% Upside

As of May 10, 2023, the average one-year price target for Etsy is 125.55. The forecasts range from a low of 46.46 to a high of $195.30. The average price target represents an increase of 42.63% from its latest reported closing price of 88.03.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Etsy is 2,783MM, an increase of 5.91%. The projected annual non-GAAP EPS is 2.89.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 7,347K shares representing 5.96% ownership of the company. In it’s prior filing, the firm reported owning 7,707K shares, representing a decrease of 4.89%. The firm decreased its portfolio allocation in ETSY by 87.64% over the last quarter.

Capital International Investors holds 6,606K shares representing 5.36% ownership of the company. In it’s prior filing, the firm reported owning 6,346K shares, representing an increase of 3.94%. The firm decreased its portfolio allocation in ETSY by 7.27% over the last quarter.

Jpmorgan Chase holds 4,694K shares representing 3.81% ownership of the company. In it’s prior filing, the firm reported owning 1,045K shares, representing an increase of 77.74%. The firm increased its portfolio allocation in ETSY by 285.90% over the last quarter.

Alliancebernstein holds 4,336K shares representing 3.51% ownership of the company. In it’s prior filing, the firm reported owning 4,215K shares, representing an increase of 2.80%. The firm decreased its portfolio allocation in ETSY by 22.96% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,817K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 3,785K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in ETSY by 11.41% over the last quarter.

Etsy Background Information
(This description is provided by the company.)

Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Etsy’s mission is to keep commerce human, and we’re committed to using the power of business to strengthen communities and empower people. Our company was founded in 2005 and is headquartered in Brooklyn, New York.

Key filings for this company:

This article originally appeared on Fintel

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