Northland Securities Begins Coverage on 1stdibs.com (NASDAQ:DIBS)

Northland Securities assumed coverage on shares of 1stdibs.com (NASDAQ:DIBS) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “market perform” rating and a $7.00 price target on the stock. Northland Securities’ price target would indicate a potential upside of 16.86% from the stock’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of 1stdibs.com in a research report on Monday, December 22nd. Wall Street Zen raised shares of 1stdibs.com from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $7.00.

1stdibs.com Stock Performance

DIBS opened at $5.99 on Monday. The stock has a market capitalization of $219.29 million, a PE ratio of -11.98 and a beta of 1.06. 1stdibs.com has a one year low of $2.30 and a one year high of $6.62. The business’s 50 day moving average price is $5.07 and its 200 day moving average price is $3.55.

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

Insider Activity at 1stdibs.com

In related news, General Counsel Melanie F. Goins sold 11,296 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $5.96, for a total transaction of $67,324.16. Following the transaction, the general counsel owned 213,068 shares of the company’s stock, valued at approximately $1,269,885.28. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Etergino sold 27,066 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $5.96, for a total value of $161,313.36. Following the transaction, the chief financial officer owned 266,885 shares of the company’s stock, valued at $1,590,634.60. This trade represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 706,640 shares of company stock worth $3,693,863. 23.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.