1stdibs.com (NASDAQ:DIBS) Upgraded to “Outperform” at Northland Securities

Northland Securities upgraded shares of 1stdibs.com (NASDAQ:DIBS) from a market perform rating to an outperform rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $7.00 target price on the stock.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of 1stdibs.com in a research report on Monday, December 29th. Wall Street Zen downgraded shares of 1stdibs.com from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.00.

1stdibs.com Trading Up 7.3%

DIBS stock opened at $5.72 on Tuesday. The firm has a 50 day moving average of $5.63 and a 200-day moving average of $4.46. The company has a market cap of $207.01 million, a price-to-earnings ratio of -14.67 and a beta of 1.06. 1stdibs.com has a 12-month low of $2.30 and a 12-month high of $6.62.

1stdibs.com (NASDAQ:DIBS) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $22.97 million during the quarter, compared to the consensus estimate of $23.10 million. 1stdibs.com had a negative return on equity of 14.38% and a negative net margin of 15.25%. Sell-side analysts forecast that 1stdibs.com will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 1stdibs.com news, CFO Thomas J. Etergino sold 27,066 shares of 1stdibs.com stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $5.96, for a total value of $161,313.36. Following the completion of the sale, the chief financial officer directly owned 266,885 shares of the company’s stock, valued at approximately $1,590,634.60. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Rosenblatt sold 73,207 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $5.96, for a total value of $436,313.72. Following the transaction, the chief executive officer directly owned 1,976,786 shares in the company, valued at approximately $11,781,644.56. This represents a 3.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 111,569 shares of company stock worth $664,951. 23.48% of the stock is owned by insiders.

Institutional Trading of 1stdibs.com

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of 1stdibs.com by 31.8% during the 4th quarter. Bank of America Corp DE now owns 26,614 shares of the company’s stock valued at $94,000 after acquiring an additional 6,424 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 1stdibs.com by 60.6% in the first quarter. Goldman Sachs Group Inc. now owns 118,051 shares of the company’s stock worth $359,000 after acquiring an additional 44,541 shares during the last quarter. Jane Street Group LLC purchased a new stake in 1stdibs.com in the first quarter valued at approximately $45,000. Acadian Asset Management LLC grew its holdings in 1stdibs.com by 5.6% in the first quarter. Acadian Asset Management LLC now owns 286,063 shares of the company’s stock valued at $867,000 after purchasing an additional 15,206 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in 1stdibs.com during the second quarter worth approximately $254,000. 66.97% of the stock is owned by institutional investors and hedge funds.

About 1stdibs.com

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.