ClearBridge: “1stDibs.com is Well-Positioned for Long-Term Success”

ClearBridge Investments, an investment management firm, published its “Small Cap Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Strategy underperformed the Russell 2000 Index, the Strategy’s benchmark, during the third quarter. On an absolute basis, the Strategy posted losses in nine of 11 sectors in which it was invested for the quarter. The primary contributor to the Strategy’s performance was the IT sector. The consumer discretionary and health care sectors were the main detractors of performance. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Investments Small Cap Strategy, in its Q3 2021 investor letter, mentioned 1stdibs.Com, Inc. (NASDAQ: DIBS) and discussed its stance on the firm. 1stdibs.Com, Inc. is a New York, New York-based e-commerce company with a $482.9 million market capitalization. DIBS delivered a -3.78% for the past month and it closed at $12.75 per share on December 24, 2021.

Here is what ClearBridge Investments Small Cap Strategy has to say about 1stdibs.Com, Inc.  in its Q3 2021 investor letter:

“The quarter had some headwinds for many of our consumer discretionary holdings, particularly recent IPO 1stDibs.com, hich fell after a strong second quarter. Much of the decline came solely from a correction in the massive gain 1stDibs.com had on the last day of the second quarter, not based on anything fundamental. However, the company launched a low-cost, new non-fungible token (NFT) platform for selling digital art, which we believe will add value over time. The opportunity for recovery in its interior-design business and international expansion make us optimistic about the company’s future. We believe 1stDibs.com is well-positioned for long-term success in high-end, high-touch online collectibles commerce.”

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Based on our calculations, 1stdibs.Com, Inc. (NASDAQ: DIBS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. DIBS was in 9 hedge fund portfolios at the end of the third quarter of 2021, compared to 16 funds in the previous quarter. 1stdibs.Com, Inc. (NASDAQ: DIBS) delivered a -6.04% return in the past 3 months.

You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.