Kazazian Asset Management LLC Makes New $3.26 Million Investment in Etsy, Inc. (NASDAQ:ETSY)

Kazazian Asset Management LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 61,600 shares of the specialty retailer’s stock, valued at approximately $3,258,000. Etsy comprises approximately 2.5% of Kazazian Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Kazazian Asset Management LLC owned 0.05% of Etsy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ETSY. Apollon Wealth Management LLC purchased a new stake in shares of Etsy during the third quarter worth about $225,000. Victory Capital Management Inc. increased its position in shares of Etsy by 422.1% during the third quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock worth $5,614,000 after acquiring an additional 81,734 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Etsy by 17.0% during the third quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock worth $958,000 after acquiring an additional 2,502 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after buying an additional 85,396 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Etsy by 887.6% in the third quarter. Quest Partners LLC now owns 24,097 shares of the specialty retailer’s stock valued at $1,338,000 after buying an additional 21,657 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value 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 position. 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Loop Capital lowered their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Morgan Stanley lowered their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Moffett Nathanson boosted their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group lowered their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and an average target price of $58.78.

Etsy Price Performance

ETSY opened at $44.66 on Wednesday. The company 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, Inc. has a 1-year low of $43.75 and a 1-year high of $71.72. The business has a 50 day moving average price of $52.06 and a two-hundred day moving average price of $53.07.

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

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.