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

Kazazian Asset Management LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. 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 holdings, making the stock its 8th biggest position. Kazazian Asset Management LLC owned 0.05% of Etsy as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETSY. Apollon Wealth Management LLC purchased a new stake in Etsy during the 3rd quarter worth approximately $225,000. Victory Capital Management Inc. grew its position in shares of Etsy by 422.1% in the 3rd 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 in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Etsy by 17.0% in the 3rd 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 in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer's stock worth $6,576,000 after acquiring an additional 85,396 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Etsy by 887.6% in the 3rd quarter. Quest Partners LLC now owns 24,097 shares of the specialty retailer's stock worth $1,338,000 after acquiring an additional 21,657 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETSY shares. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Loop Capital reduced their price target on Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Thursday, February 20th. Moffett Nathanson boosted their price target on Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Stifel Nicolaus reduced their price target on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group reduced their price target on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $58.42.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $1,286,445 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Etsy Stock Performance

NASDAQ:ETSY traded up $0.18 during trading hours on Friday, hitting $45.11. 11,112,880 shares of the company's stock traded hands, compared to its average volume of 3,589,848. The firm has a market cap of $4.83 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a twelve month low of $43.43 and a twelve month high of $71.72. The stock's fifty day moving average price is $51.57 and its two-hundred day moving average price is $52.86.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy Company 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.