Northland Capmk Upgrades 1stdibs.com (NASDAQ:DIBS) to “Hold”

1stdibs.com (NASDAQ:DIBS) was upgraded by equities researchers at Northland Capmk to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on DIBS. Wall Street Zen raised shares of 1stdibs.com from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Northland Securities assumed coverage on 1stdibs.com in a report on Monday. They issued a “market perform” rating and a $7.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 1stdibs.com in a report on Monday, December 22nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $7.00.

1stdibs.com Trading Up 1.7%

Shares of DIBS opened at $6.01 on Monday. 1stdibs.com has a 12-month low of $2.30 and a 12-month high of $6.62. The company has a market cap of $220.03 million, a PE ratio of -12.02 and a beta of 1.05. The stock has a 50-day moving average price of $5.01 and a 200-day moving average price of $3.53.

1stdibs.com (NASDAQ:DIBS) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. 1stdibs.com had a negative net margin of 19.94% and a negative return on equity of 18.56%. The company had revenue of $21.97 million for the quarter, compared to analysts’ expectations of $21.51 million. As a group, analysts predict that 1stdibs.com will post -0.52 earnings per share for the current year.

Insider Activity

In related news, CEO David S. Rosenblatt sold 595,071 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $5.09, for a total transaction of $3,028,911.39. Following the transaction, the chief executive officer directly owned 1,917,493 shares in the company, valued at $9,760,039.37. This trade represents a 23.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Melanie F. Goins sold 11,296 shares of 1stdibs.com stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $5.96, for a total value of $67,324.16. Following the completion of the transaction, the general counsel directly owned 213,068 shares in the company, valued at $1,269,885.28. This trade represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 706,640 shares of company stock valued at $3,693,863. 23.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Truffle Hound Capital LLC purchased a new position in shares of 1stdibs.com in the second quarter valued at about $1,100,000. Y Intercept Hong Kong Ltd purchased a new position in 1stdibs.com during the 2nd quarter valued at about $254,000. Catalyst Funds Management Pty Ltd bought a new position in 1stdibs.com during the 2nd quarter valued at approximately $30,000. Goldman Sachs Group Inc. raised its position in 1stdibs.com by 60.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 118,051 shares of the company’s stock valued at $359,000 after purchasing an additional 44,541 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in 1stdibs.com in the 1st quarter worth approximately $103,000. Institutional investors own 66.97% of the company’s stock.

1stdibs.com Company Profile

1stDibs.com is an online marketplace specializing in high-end furniture, fine art, jewelry, watches, fashion and decor. The platform curates offerings from independent dealers, galleries and luxury brands, enabling vetted sellers to reach discerning buyers around the world. Headquartered in New York with an additional office in Paris, 1stDibs has built a reputation for quality and authenticity through rigorous seller screening and detailed item vetting.

Launched in 2001 by founder Michael Bruno, the company has grown into a leading destination for both private collectors and interior design professionals.