Kazazian Asset Management LLC Buys Shares of 61,600 Etsy, Inc. (NASDAQ:ETSY)

Kazazian Asset Management LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, HoldingsChannel.com reports. The firm bought 61,600 shares of the specialty retailer’s stock, valued at approximately $3,258,000. Etsy accounts for 2.5% of Kazazian Asset Management LLC’s portfolio, making the stock its 8th largest position.

Several other large investors also recently added to or reduced their stakes in the company. Brooklyn FI LLC acquired a new stake in Etsy during the 4th quarter valued at $5,229,000. Xponance Inc. raised its stake in Etsy by 19.8% during the 4th quarter. Xponance Inc. now owns 15,609 shares of the specialty retailer’s stock valued at $826,000 after purchasing an additional 2,578 shares during the period. Intech Investment Management LLC acquired a new stake in Etsy during the 4th quarter valued at $751,000. Kennondale Capital Management LLC acquired a new stake in Etsy during the 4th quarter valued at $926,000. Finally, Royce & Associates LP acquired a new stake in Etsy during the 4th quarter valued at $4,154,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

ETSY stock opened at $44.66 on Wednesday. Etsy, Inc. has a 52-week low of $43.75 and a 52-week high of $71.72. The company has a 50-day moving average of $52.06 and a two-hundred day moving average of $53.07. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the company earned $0.62 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of several recent analyst reports. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus dropped their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Finally, Loop Capital dropped their price target on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy has an average rating of “Hold” and an average price target of $58.78.

Etsy Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.