MetLife Investment Management LLC Has $305,000 Stock Position in Etsy, Inc. (NASDAQ:ETSY)

MetLife Investment Management LLC reduced its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 84.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,489 shares of the specialty retailer's stock after selling 29,201 shares during the quarter. MetLife Investment Management LLC's holdings in Etsy were worth $305,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 231 shares during the period. UMB Bank n.a. lifted its position in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 292 shares during the period. 1620 Investment Advisors Inc. bought a new position in Etsy during the 2nd quarter valued at $42,000. Capital Performance Advisors LLP acquired a new position in shares of Etsy during the 3rd quarter valued at $43,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Etsy in the 3rd quarter worth $59,000. Institutional investors own 99.53% of the company's stock.

Etsy Trading Up 2.5 %

NASDAQ ETSY traded up $1.45 on Monday, reaching $58.75. The stock had a trading volume of 3,373,948 shares, compared to its average volume of 3,738,209. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $89.58. The business has a 50 day moving average price of $52.22 and a 200 day moving average price of $56.06. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 6.76 and a beta of 1.99.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a share buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares in the company, valued at $30,257.12. This trade represents a 70.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total transaction of $39,862.50. Following the completion of the transaction, the insider now directly owns 25,121 shares in the company, valued at approximately $1,335,181.15. This represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,069 shares of company stock worth $261,888 in the last 90 days. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ETSY. Moffett Nathanson lifted their target price on Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Barclays lowered their price objective on shares of Etsy from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group lowered shares of Etsy from a "neutral" rating to a "sell" rating and cut their target price for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday, October 31st. Finally, Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.71.

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.