Kazazian Asset Management LLC Has $2.07 Million Stock Position in Etsy, Inc. $ETSY

Kazazian Asset Management LLC cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 39.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,270 shares of the specialty retailer’s stock after selling 26,750 shares during the quarter. Etsy makes up 2.8% of Kazazian Asset Management LLC’s portfolio, making the stock its 7th largest holding. Kazazian Asset Management LLC’s holdings in Etsy were worth $2,070,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Creative Planning lifted its holdings in Etsy by 15.0% during the 2nd quarter. Creative Planning now owns 13,494 shares of the specialty retailer’s stock valued at $677,000 after purchasing an additional 1,757 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Etsy by 18.1% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,375 shares of the specialty retailer’s stock worth $5,217,000 after acquiring an additional 16,025 shares in the last quarter. Fiera Capital Corp grew its position in Etsy by 2.0% during the 2nd quarter. Fiera Capital Corp now owns 649,542 shares of the specialty retailer’s stock worth $32,581,000 after acquiring an additional 12,855 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Etsy by 26.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,886 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Etsy by 528.9% during the 2nd quarter. Allworth Financial LP now owns 4,836 shares of the specialty retailer’s stock valued at $243,000 after purchasing an additional 4,067 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director M Michele Burns sold 14,464 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the transaction, the director directly owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the completion of the transaction, the insider directly owned 54,840 shares of the company’s stock, valued at approximately $4,113,548.40. This trade represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 394,169 shares of company stock valued at $25,936,217 in the last three months. Insiders own 2.80% of the company’s stock.

Etsy Price Performance

Shares of Etsy stock opened at $57.09 on Monday. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51. The stock’s 50-day moving average is $65.62 and its 200-day moving average is $59.13. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 10.65 and a beta of 1.87.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $655.83 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. Etsy’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

ETSY has been the subject of several research reports. Weiss Ratings upgraded shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $72.00 price objective on shares of Etsy in a research report on Thursday, October 23rd. Moffett Nathanson restated a “neutral” rating on shares of Etsy in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Etsy from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Barclays increased their price target on Etsy from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $64.24.

About Etsy

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.