Etsy Inc. [NASDAQ: ETSY] traded at a low on 06/09/21, posting a -1.71 loss after which it closed the day’ session at $167.30. The company report on June 9, 2021 that Etsy Announces Pricing of $1.0 Billion of Convertible Senior Notes Offering.
Etsy, Inc. (Nasdaq: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced the pricing of $1.0 billion aggregate principal amount of 0.25% convertible senior notes due 2028 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The sale of the notes is expected to close on June 11, 2021, subject to customary closing conditions.
The notes will be general unsecured obligations of Etsy and will accrue interest payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2021, at a rate of 0.25% per year. The notes will mature on June 15, 2028, unless earlier converted, redeemed or repurchased. The initial conversion rate will be 4.0518 shares of Etsy’s common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $246.80 per share). The initial conversion price of the notes represents a premium of approximately 45.0% over the last reported sale price of Etsy’s common stock on June 8, 2021. The notes will be convertible into cash, shares of Etsy’s common stock or a combination of cash and shares of Etsy’s common stock, at Etsy’s election.
The results of the trading session contributed to over 5084156 shares changing hands. Over the past one week, the price volatility of Etsy Inc. stands at 3.90% while the volatility over the past one month is 4.23%.
The market cap for ETSY stock reached $21.47 billion, with 126.22 million shares outstanding and 125.22 million shares in the current float. Compared to the average trading volume of 3.09M shares, ETSY reached a trading volume of 5084156 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Etsy Inc. [ETSY]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETSY shares is $226.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETSY stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Atlantic Equities have made an estimate for Etsy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 07, 2021. The new note on the price target was released on May 07, 2021, representing the official price target for Etsy Inc. stock.
The Average True Range (ATR) for Etsy Inc. is set at 8.11, with the Price to Sales ratio for ETSY stock in the period of the last 12 months amounting to 10.48. The Price to Book ratio for the last quarter was 30.87, with the Price to Cash per share for the same quarter was set at 12.99. Price to Free Cash Flow for ETSY in the course of the last twelve months was 26.93 with Quick ratio for the last quarter at 4.40.
How has ETSY stock performed recently?
Etsy Inc. [ETSY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.48. With this latest performance, ETSY shares gained by 0.10% in over the last four-week period, additionally plugging by 6.61% over the last 6 months – not to mention a rise of 119.07% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETSY stock in for the last two-week period is set at 44.70, with the RSI for the last a single of trading hit 47.04, and the three-weeks RSI is set at 43.84 for Etsy Inc. [ETSY]. The present Moving Average for the last 50 days of trading for this stock 187.65, while it was recorded at 167.15 for the last single week of trading, and 172.72 for the last 200 days.
Etsy Inc. [ETSY]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Etsy Inc. [ETSY] shares currently have an operating margin of +24.68 and a Gross Margin at +73.07. Etsy Inc.’s Net Margin is presently recorded at +20.24.
Return on Total Capital for ETSY is now 26.95, given the latest momentum, and Return on Invested Capital for the company is 22.28. Return on Equity for this stock inclined to 60.79, with Return on Assets sitting at 17.70. When it comes to the capital structure of this company, Etsy Inc. [ETSY] has a Total Debt to Total Equity ratio set at 153.22. Additionally, ETSY Total Debt to Total Capital is recorded at 60.51, with Total Debt to Total Assets ending up at 47.31. Long-Term Debt to Equity for the company is recorded at 151.46, with the Long-Term Debt to Total Capital now at 59.81.
Reflecting on the efficiency of the workforce at the company, Etsy Inc. [ETSY] managed to generate an average of $246,992 per employee. Receivables Turnover for the company is 14.71 with a Total Asset Turnover recorded at a value of 0.87.Etsy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.
Earnings analysis for Etsy Inc. [ETSY]
With the latest financial reports released by the company, Etsy Inc. posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 92.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETSY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Etsy Inc. go to 48.10%.
Insider trade positions for Etsy Inc. [ETSY]
There are presently around $17,823 million, or 85.50% of ETSY stock, in the hands of institutional investors. The top three institutional holders of ETSY stocks are: VANGUARD GROUP INC with ownership of 13,545,512, which is approximately -2.565% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 10,044,366 shares of the stock with an approximate value of $1.68 billion in ETSY stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.4 billion in ETSY stock with ownership of nearly 1.334% of the company’s market capitalization.
Positions in Etsy Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 454 institutional holders increased their position in Etsy Inc. [NASDAQ:ETSY] by around 10,832,825 shares. Additionally, 345 investors decreased positions by around 15,023,474 shares, while 70 investors held positions by with 80,676,150 shares. The mentioned changes placed institutional holdings at 106,532,449 shares, according to the latest SEC report filing. ETSY stock had 173 new institutional investments in for a total of 3,335,393 shares, while 78 institutional investors sold positions of 2,358,771 shares during the same period.