1stdibs.com (NASDAQ:DIBS) Shares Down 2% – Here’s What Happened

1stdibs.com, Inc. (NASDAQ:DIBS) dropped 2% during mid-day trading on Thursday . The stock traded as low as $5.37 and last traded at $5.40. Approximately 286,404 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 204,228 shares. The stock had previously closed at $5.51.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of 1stdibs.com from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of 1stdibs.com in a research report on Monday, December 29th. Finally, Northland Securities upgraded 1stdibs.com to a “hold” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 1stdibs.com presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

1stdibs.com Stock Down 2.0%

The company’s 50-day moving average is $5.80 and its two-hundred day moving average is $4.19. The company has a market cap of $197.69 million, a P/E ratio of -10.80 and a beta of 1.05.

Insider Activity

In related news, General Counsel Melanie F. Goins sold 11,296 shares of the company’s 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 transaction, the general counsel owned 213,068 shares in the company, valued at approximately $1,269,885.28. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Rosenblatt sold 595,071 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $5.09, for a total value of $3,028,911.39. Following the completion of the sale, the chief executive officer directly owned 1,917,493 shares of the company’s stock, valued at $9,760,039.37. This represents a 23.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 706,640 shares of company stock valued at $3,693,863 in the last three months. Company insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in 1stdibs.com by 59.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,395 shares of the company’s stock valued at $27,000 after buying an additional 3,862 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 1stdibs.com by 43.5% during the third quarter. Bank of America Corp DE now owns 13,216 shares of the company’s stock worth $34,000 after acquiring an additional 4,006 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of 1stdibs.com by 4.0% in the third quarter. Two Sigma Investments LP now owns 112,460 shares of the company’s stock worth $291,000 after acquiring an additional 4,296 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of 1stdibs.com in the fourth quarter valued at $29,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of 1stdibs.com by 21.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 40,328 shares of the company’s stock valued at $104,000 after purchasing an additional 7,132 shares in the last quarter. 66.97% of the stock is owned by institutional investors.

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.