Docoh
Loading...

ETSY Etsy

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.

Company profile

Ticker
ETSY
Exchange
Website
CEO
Josh Silverman
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Etsy Ireland • Reverb Holdings, Inc. ...

ETSY stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 21
18 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Etsy earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 225.02 11,000 2.48M 1,321
18 Oct 21 Josh Silverman Common Stock Option exercise Acquire M No Yes 10.62 11,000 116.82K 12,321
18 Oct 21 Josh Silverman Employee Stock Option Common Stock Option exercise Dispose M No Yes 10.62 11,000 116.82K 2,902,500
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 220.9 114 25.18K 1,321
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 220.26 1,727 380.39K 1,435
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 219.38 2,772 608.12K 3,162
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 218.21 8,422 1.84M 5,934
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 217.28 10,317 2.24M 14,356
14 Oct 21 Josh Silverman Common Stock Sell Dispose S No Yes 216.57 3,648 790.05K 24,673
14 Oct 21 Josh Silverman Common Stock Option exercise Acquire M No Yes 10.62 27,000 286.74K 28,321

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

90.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 760 784 -3.1%
Opened positions 104 169 -38.5%
Closed positions 128 88 +45.5%
Increased positions 297 276 +7.6%
Reduced positions 253 258 -1.9%
13F shares
Current Prev Q Change
Total value 22.76B 21.05B +8.1%
Total shares 114.55M 108.34M +5.7%
Total puts 6.93M 6.08M +14.0%
Total calls 6.17M 5.77M +6.8%
Total put/call ratio 1.1 1.1 +6.7%
Largest owners
Shares Value Change
Vanguard 13.93M $2.87B +2.8%
BLK Blackrock 11.15M $2.3B +11.0%
TROW T. Rowe Price 9.4M $1.94B +12.7%
STT State Street 5.12M $1.05B +5.2%
Stad Marc 4.29M $69.39M 0.0%
Alliancebernstein 3.66M $753.17M +84.9%
Wellington Management 3.1M $637.65M -27.7%
FMR 2.96M $609.08M -20.1%
Capital World Investors 2.58M $531.44M +603.8%
Geode Capital Management 2.51M $515.28M +1.5%
Largest transactions
Shares Bought/sold Change
Capital World Investors 2.58M +2.21M +603.8%
Alliancebernstein 3.66M +1.68M +84.9%
Wellington Management 3.1M -1.19M -27.7%
BLK Blackrock 11.15M +1.11M +11.0%
TROW T. Rowe Price 9.4M +1.06M +12.7%
William Blair Investment Management 127.27K -1.06M -89.2%
Goodnow Investment 768.6K +768.6K NEW
FMR 2.96M -742.82K -20.1%
1832 Asset Management 40 -718.46K -100.0%
Flossbach Von Storch 670.13K +670.13K NEW

Financial report summary

?
Competition
FacebookLeafGodaddyPoshmark
Risks
  • Operational Risks Related to Our Business
  • We have experienced rapid growth, and we may not have the infrastructure, human resources, or operational resources to sustain continued growth at our recent pace.
  • The COVID-19 pandemic is unprecedented and has impacted, and may continue to impact, our GMS, key metrics, and results of operations in numerous ways that remain volatile and unpredictable.
  • Our quarterly operating results may fluctuate, which could cause our stock price to decline.
  • Our software is highly complex and may contain undetected errors.
  • We rely on Google Cloud for a substantial portion of the computing, storage, data processing, networking, and other services for Etsy.com.
  • The trustworthiness of our marketplaces and the connections within our communities are important to our success. Our business, financial performance, and growth depend on our ability to attract and retain active and engaged communities of buyers and sellers. If we are unable to retain our existing buyers and sellers and activate new ones, our financial performance could decline.
  • Our business, financial performance and growth depends on our ability to attract and retain active and engaged communities of buyers and sellers.
  • We rely on our sellers to provide a fulfilling experience to our buyers.
  • Our business depends on third party services and technology which we utilize to maintain and scale the technology underlying our platforms and our business operations.
  • Our business depends on continued and unimpeded access to third party services, platforms and infrastructure that we rely upon to maintain and scale our platforms.
  • Our payments systems have both operational and compliance risks, including in-house execution risk, dependency on third-party providers, and a complex landscape of evolving laws, regulations, rules, and standards.
  • Our business could be adversely affected by economic downturns, natural disasters, public health crises such as the COVID-19 pandemic, political crises, geopolitical changes or other similar events.
  • Further expansion outside of the United States will subject us to risks associated with operations abroad.
  • Our ability to recruit and retain a diverse group of employees is important to our success.
  • We may be unable to adequately protect our intellectual property.
  • We may experience fluctuations in our tax obligations and effective tax rate.
  • The terms of our debt instruments may restrict our ability to pursue our business strategies.
  • Our insurance may not cover or mitigate all the risks facing our business.
  • Strategic Risks Related to Our Business and Industry
  • We face intense competition and may not be able to compete effectively.
  • Depop’s growth and profitability depends on its ability to attract new buyers and sellers, expand internationally and to compete effectively in new and existing markets.
  • If we are not able to keep pace with technological changes and enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers, our business, financial performance, and growth may be harmed.
  • If the widely adopted mobile, social, search, and/or advertising solutions that we, our sellers and our buyers rely on as part of our key offering are no longer available or effective, or if access to these major platforms is limited, the use of our marketplaces could decline.
  • Expanding our operations outside of the United States is part of our strategy and the growth of our business could be harmed if our expansion efforts do not succeed.
  • Our recent acquisitions of Depop and Elo7 may create strains on our management, technology and operational resources and may prove to be costlier and take longer to integrate than we anticipate which may ultimately reduce or eliminate the benefits to Etsy of the acquisitions.
  • We incurred substantial transaction fees and costs in connection with our acquisitions of Depop and Elo7 and may experience difficulty in realizing the expected benefits of the acquisitions.
  • We may have limited redress with respect to claims under the Depop and Elo7 acquisition agreements.
  • The due diligence undertaken by us in connection with the Depop and Elo7 acquisitions may not have revealed all relevant considerations or liabilities of Depop and/or Elo7, which could have an adverse effect on our financial condition or results of operations.
  • We may expand our business through additional acquisitions of other businesses or assets or strategic partnerships and investments, which may divert management’s attention and/or prove to be unsuccessful.
  • Our marketing efforts to help grow our business may not be effective.
  • Enforcement of our marketplace policies may negatively impact our brands, reputation, and/or our financial performance.
  • We are subject to risks related to our environmental, social and governance activities and disclosures.
  • If we are unable to successfully execute on our business strategy or if our strategy proves to be ineffective, our business, financial performance, and growth could be adversely affected.
  • We may need additional capital, which may not be available to us on acceptable terms or at all.
  • We have a significant amount of debt and may incur additional debt in the future. We may not have sufficient cash flow from our business to pay our substantial debt when due.
  • Regulatory, Compliance, and Legal Risks
  • Failure to deal effectively with constantly evolving fraud or other illegal activity could harm our business.
  • Our brands may be harmed if third parties or members of our communities use or attempt to use our marketplaces as part of their illegal or unethical business practices.
  • We may be subject to claims that items listed by sellers in our marketplaces are counterfeit, infringing, illegal, harmful or otherwise violate our policies.
  • We may be involved in litigation and regulatory matters that are expensive and time consuming and that may require changes to our strategy, the features of our platforms and/or how our business operates.
  • Expanding and evolving regulations in the areas of privacy and user data protection could create technological, economic and complex cross-border business impediments to our business and those of our sellers.
  • Expanding our operations in Latin America and India may expose us to additional risks.
  • Our business and our sellers and buyers may be subject to evolving sales and other tax regimes in various jurisdictions, which may harm our business.
  • Our business is subject to a large number of U.S. and non-U.S. laws, many of which are evolving.
  • We may be subject to intellectual property claims, which, even if untrue, could be extremely costly to defend, damage our brands, require us to pay significant damages, and limit our ability to use certain technologies in the future.
  • We are subject to the terms of open source licenses because our platforms incorporate, and we contribute to, open source software, potentially impairing our ability to adequately protect our intellectual property.
  • There remains pronounced legal, economic and implementation uncertainty surrounding the United Kingdom’s departure from the European Union, which may be a source of instability in international markets, create significant currency fluctuations, adversely affect our operations in the United Kingdom, and pose additional risks to our business, revenue and financial condition.
  • If we are unable to maintain effective internal control over financial reporting, investors may lose confidence in the accuracy of our financial reports.
  • The price of our common stock has been and will likely continue to be volatile and declines in the price of common stock could subject us to litigation.
  • Future sales and issuances of our common stock or rights to purchase common stock could result in additional dilution to our stockholders and could cause the price of our common stock to decline.
  • Our certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Our business could be negatively affected as a result of actions of activist stockholders.
  • Our stock repurchases are discretionary and even if effected, they may not achieve the desired objectives.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, could limit attempts to make changes in our management and could depress the price of our common stock.
Management Discussion
  • As of June 30, 2021, our marketplaces connected 5.2 million active sellers and 90.5 million active buyers in nearly every country in the world. In the three and six months ended June 30, 2021, sellers generated GMS of $3.0 billion and $6.2 billion, respectively, of which approximately 63% in each period came from purchases made on mobile devices. We are a global company and approximately 41% of our GMS in both the three and six months ended June 30, 2021 came from transactions where either a seller or a buyer was located outside of the United States.
  • Total revenue was $528.9 million and $1.1 billion in the three and six months ended June 30, 2021, respectively, driven by strong growth in both Marketplace and Services revenue. In the three and six months ended June 30, 2021, we recorded net income of $98.3 million and $242.0 million, respectively, and non-GAAP Adjusted EBITDA of $139.5 million and $323.5 million, respectively. See “Non-GAAP Financial Measures” for more information and for a reconciliation of Adjusted EBITDA to net income, the most directly comparable financial measure calculated in accordance with GAAP.
  • Cash, cash equivalents, and short-term investments were $2.5 billion as of June 30, 2021. As of June 30, 2021, Etsy had outstanding $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes”), and $0.1 million aggregate principal amount of 0% Convertible Senior Notes due 2023 (the “2018 Notes” and together with the 2021 Notes, 2020 Notes, and the 2019 Notes, the “Notes”). Additionally, Etsy has the ability to draw down on its $200.0 million senior secured revolving credit facility. In the six months ended June 30, 2021, Etsy had positive operating cash flows of $270.2 million.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: ago, apparel, assumption, Ayden, boosting, Boring, Brooklyn, Burlington, capability, celebrating, compelling, costlier, creator, CRM, de, deflation, delighted, Delta, Depop, devastating, devote, Devoting, diligence, DMA, DSA, escalating, escrow, eventually, extraordinary, flash, gap, Gen, Germany, graph, Greenbook, half, headquartered, home, honest, indemnity, inflation, July, Kohl, landing, Latin, LGBTQIA, London, McMillan, MercadoLibre, Mexico, minimum, modest, modestly, MoIP, narrow, niche, North, NY, officially, outsourced, Paulo, Poshmark, preliminary, prompted, ratably, RealReal, recourse, recoverable, redeem, redeemed, redeployed, Relatedly, remind, representation, resell, retrieval, revealed, Sao, secondhand, semantic, send, signal, simplified, specialty, Star, staying, Stripe, Supplier, Survey, Sweetwater, ThredUp, thrift, TJX, traction, underrepresented, undertaken, undisclosed, unlocking, unpaid, unprompted, uptick, variant, vast, Vinted, warranty, wave, week, worth, XWalk
Removed: energy, subsidiary, tool, vibrant

Patents

GRANT
Utility
Identifying direct and indirect effects in A/B tests
28 Sep 21
Methods, systems, and apparatus, including computer programs encoded on a computer storage medium, for performing an A/B test on a target element of an online platform.
APP
Utility
Method and Apparatus for Requesting Products
27 May 21
A system and method for selling product is provided.
APP
Utility
Systems and Methods for Guided Construction of a Search Query in an Electronic Commerce Environment
25 Mar 21
A computer-implemented method includes receiving a search query from a user through a user interface of a user computing device, identifying a search term within the search query, the search term including at least a portion of the search query, generating, based at least in part on the search term, one or more alternative search terms that are each different from the search term, and sending, over the communication network, the one or more alternative search terms to the user computing device.
APP
Utility
Systems and Methods for Shopping in an Electronic Commerce Environment
25 Mar 21
A method of shopping within an electronic commerce environment includes enabling a first user of a plurality of users to add one or more items to a virtual shopping cart of the first user that is maintained by a server computer system, generating, by the server computer system, statistical data related to the one or more items, and providing the statistical data to the first user in a web page that is generated by the server computer system.
APP
Utility
Exchange Platform Activity Prediction
4 Mar 21
Methods, systems, and apparatus, including computer programs encoded on a computer storage medium, that facilitate forecasting outcomes of items available on an exchange platform and allocating resources to providers of such items to assist the providers achieve the forecasted outcomes.