Geode Capital Management LLC Has $845,000 Stock Holdings in Solo Brands, Inc. (NYSE:DTC)

Geode Capital Management LLC raised its stake in Solo Brands, Inc. (NYSE:DTC) by 27.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 599,370 shares of the company’s stock after purchasing an additional 129,085 shares during the period. Geode Capital Management LLC owned 0.65% of Solo Brands worth $845,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Solo Brands by 235.1% in the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after buying an additional 21,209 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Solo Brands by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock worth $12,680,000 after acquiring an additional 384,989 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Solo Brands by 5.3% in the third quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock valued at $566,000 after purchasing an additional 20,368 shares during the last quarter. Barclays PLC lifted its position in shares of Solo Brands by 562.2% during the third quarter. Barclays PLC now owns 37,686 shares of the company’s stock valued at $53,000 after purchasing an additional 31,995 shares in the last quarter. Finally, Sei Investments Co. grew its position in Solo Brands by 7.1% in the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after purchasing an additional 41,073 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.52.

Solo Brands Stock Performance

Shares of DTC opened at $1.07 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. The firm has a market cap of $98.09 million, a PE ratio of -0.31 and a beta of 2.48. Solo Brands, Inc. has a 1 year low of $1.03 and a 1 year high of $3.36. The stock’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.51.

About Solo Brands

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.