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1stdibs.Com, Inc. (NASDAQ:DIBS) Sees Significant Drop in Short Interest

kopsource · Nov 30, 2022 15:51

1stdibs.Com, Inc. (NASDAQ:DIBS – Get Rating) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,190,000 shares, a drop of 28.7% from the October 31st total of 1,670,000 shares. Approximately 7.7% of the company's stock are short sold. Based on an average daily trading volume, of 158,600 shares, the days-to-cover ratio is presently 7.5 days.

Insider Activity at 1stdibs.Com

In related news, CTO Ross A. Paul sold 8,328 shares of 1stdibs.Com stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $5.96, for a total transaction of $49,634.88. Following the transaction, the chief technology officer now directly owns 142,686 shares of the company's stock, valued at $850,408.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 19,962 shares of company stock valued at $118,769 over the last ninety days. 19.90% of the stock is owned by company insiders.

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Institutional Investors Weigh In On 1stdibs.Com

Institutional investors and hedge funds have recently made changes to their positions in the stock. CI Investments Inc. acquired a new stake in shares of 1stdibs.Com during the first quarter worth $48,000. California State Teachers Retirement System lifted its stake in shares of 1stdibs.Com by 114.1% during the first quarter. California State Teachers Retirement System now owns 8,703 shares of the company's stock worth $70,000 after buying an additional 4,638 shares during the period. American International Group Inc. lifted its stake in shares of 1stdibs.Com by 181.1% during the first quarter. American International Group Inc. now owns 10,066 shares of the company's stock worth $80,000 after buying an additional 6,485 shares during the period. New York State Common Retirement Fund lifted its position in 1stdibs.Com by 173.7% during the first quarter. New York State Common Retirement Fund now owns 10,558 shares of the company's stock valued at $84,000 after purchasing an additional 6,700 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in 1stdibs.Com during the first quarter valued at $89,000. 51.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Barclays lowered their target price on shares of 1stdibs.Com from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, August 11th.

1stdibs.Com Stock Performance

DIBS traded up $0.06 during trading on Wednesday, hitting $6.00. The stock had a trading volume of 2,896 shares, compared to its average volume of 129,928. The company has a market capitalization of $233.58 million, a PE ratio of -9.52 and a beta of 0.86. 1stdibs.Com has a twelve month low of $4.77 and a twelve month high of $14.04. The stock has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $6.25.

1stdibs.Com Company Profile

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1stdibs.Com, Inc operates an online marketplace for vintage, antique, and contemporary furniture, home décor, jewelry, watches, art, and fashion products worldwide. The company offers online marketplace that enables commerce between sellers and buyers; and Design Manager, an online platform that provides software solution to interior designers.