Kanen Wealth Management LLC Has $11.38 Million Position in 1stdibs.com, Inc. $DIBS

Key Points

• Kanen Wealth Management increased its 1stdibs.com stake by 75.8% in the first quarter, acquiring 891,801 shares for a total position worth about $11.38 million, or roughly 5.85% of DIBS.
• Institutional investors own approximately 66.97% of the company, while CEO David Rosenblatt separately bought 47,500 shares at an average price of $4.51.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $7.00 average price target. DIBS recently traded at $4.13 after reporting a quarterly loss of $0.06 per share and revenue below expectations.

Kanen Wealth Management LLC boosted its position in 1stdibs.com, Inc. (NASDAQ:DIBS - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,068,723 shares of the company's stock after acquiring an additional 891,801 shares during the period. 1stdibs.com accounts for about 4.1% of Kanen Wealth Management LLC's holdings, making the stock its 8th biggest position. Kanen Wealth Management LLC owned approximately 5.85% of 1stdibs.com worth $11,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of 1stdibs.com by 31.8% during the fourth quarter. Bank of America Corp DE now owns 26,614 shares of the company's stock worth $94,000 after purchasing an additional 6,424 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 1stdibs.com by 60.6% in 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 in the last quarter. Jane Street Group LLC acquired a new stake in 1stdibs.com in the 1st quarter valued at $45,000. Acadian Asset Management LLC grew its position in 1stdibs.com by 5.6% in the 1st 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, Arrowstreet Capital Limited Partnership bought a new stake in 1stdibs.com during the 2nd quarter valued at $89,000. Institutional investors and hedge funds own 66.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of 1stdibs.com from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of 1stdibs.com in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.00.

1stdibs.com Stock Down 4.2%

DIBS stock opened at $4.13 on Wednesday. The firm has a market cap of $145.91 million, a PE ratio of -13.32 and a beta of 0.73. The business has a 50 day moving average of $4.50 and a 200-day moving average of $5.08. 1stdibs.com, Inc. has a 12-month low of $2.50 and a 12-month high of $6.62.

1stdibs.com (NASDAQ:DIBS - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). 1stdibs.com had a negative return on equity of 12.05% and a negative net margin of 12.33%.The business had revenue of $22.39 million for the quarter, compared to the consensus estimate of $22.73 million. On average, research analysts expect that 1stdibs.com, Inc. will post -0.23 earnings per share for the current year.

Insider Activity

In other 1stdibs.com news, CEO David S. Rosenblatt bought 47,500 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $4.51 per share, with a total value of $214,225.00. Following the transaction, the chief executive officer directly owned 712,802 shares in the company, valued at $3,214,737.02. This trade represents a 7.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.21% of the stock is currently owned by corporate insiders.

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.

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