Daniel Nova Acquires 65,000 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel Nova purchased 65,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was purchased at an average price of $8.04 per share, with a total value of $522,600.00. Following the purchase, the director owned 368,930 shares of the company’s stock, valued at approximately $2,966,197.20. The trade was a 21.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ThredUp Stock Up 0.5%

ThredUp stock opened at $7.91 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.96. The company’s 50-day moving average is $9.54 and its 200-day moving average is $8.40. The firm has a market capitalization of $974.20 million, a PE ratio of -26.37 and a beta of 1.70. ThredUp Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $12.28.

Analysts Set New Price Targets

TDUP has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Wells Fargo & Company boosted their target price on ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, August 5th. Roth Capital began coverage on ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 price target for the company. Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in ThredUp during the 2nd quarter worth $32,000. State of Alaska Department of Revenue bought a new position in shares of ThredUp in the third quarter worth about $55,000. Ameritas Investment Partners Inc. lifted its stake in ThredUp by 32.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock valued at $70,000 after purchasing an additional 2,287 shares during the last quarter. Bensler LLC bought a new position in ThredUp in the 2nd quarter valued at approximately $75,000. Finally, Victory Capital Management Inc. bought a new stake in shares of ThredUp during the first quarter worth $25,000. 89.08% of the stock is owned by institutional investors.

About ThredUp

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.