ThredUp (NASDAQ:TDUP) Posts Earnings Results, Beats Estimates By $0.01 EPS

ThredUp (NASDAQ:TDUP) posted its quarterly earnings results on Monday. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01, Zacks reports. ThredUp had a negative net margin of 19.66% and a negative return on equity of 71.49%.

ThredUp Stock Performance

TDUP stock traded down $0.29 during trading on Monday, reaching $8.50. The company had a trading volume of 4,307,238 shares, compared to its average volume of 1,908,949. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp has a twelve month low of $0.50 and a twelve month high of $12.28. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -17.35 and a beta of 1.70. The firm has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $8.31.

Insider Buying and Selling at ThredUp

In other news, Director Coretha M. Rushing sold 105,000 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the sale, the director directly owned 148,197 shares of the company’s stock, valued at $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean Sobers sold 50,000 shares of ThredUp stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the sale, the chief financial officer directly owned 427,390 shares of the company’s stock, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 255,000 shares of company stock valued at $2,642,100 over the last quarter. Insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in ThredUp during the second quarter valued at $32,000. Tower Research Capital LLC TRC increased its stake in ThredUp by 110.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock worth $82,000 after buying an additional 5,744 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of ThredUp during the second quarter valued at approximately $91,000. Legal & General Group Plc raised its holdings in shares of ThredUp by 135.3% during the second quarter. Legal & General Group Plc now owns 16,056 shares of the company’s stock valued at $120,000 after acquiring an additional 9,231 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of ThredUp by 6.7% in the second quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TDUP. Northland Securities set a $14.00 price objective on ThredUp in a research note on Tuesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, October 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of ThredUp in a research note on Monday, October 27th. Northland Capmk raised shares of ThredUp to a “strong-buy” rating in a research report on Monday, July 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.