ThredUp (NASDAQ:TDUP) CFO Sean Sobers Sells 51,220 Shares

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $380,052.40. Following the transaction, the chief financial officer directly owned 495,336 shares in the company, valued at $3,675,393.12. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

ThredUp Stock Performance

Shares of TDUP traded down $0.01 during mid-day trading on Tuesday, hitting $7.40. 2,418,391 shares of the company’s stock were exchanged, compared to its average volume of 1,918,140. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. ThredUp Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $12.28. The business’s 50 day moving average is $8.44 and its two-hundred day moving average is $8.70. The firm has a market capitalization of $926.04 million, a P/E ratio of -24.67 and a beta of 1.71.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $77.34 million. On average, equities analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

TDUP has been the subject of several recent research reports. Northland Securities set a $14.00 price target on ThredUp in a report on Tuesday, August 5th. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Roth Capital started coverage on shares of ThredUp in a research note on Wednesday, October 29th. They set a “buy” rating and a $11.00 price target on the stock. Wells Fargo & Company increased their price target on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ThredUp in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its holdings in 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 buying an additional 1,190 shares in the last quarter. SG Americas Securities LLC increased its stake in ThredUp by 5.0% in the 2nd quarter. SG Americas Securities LLC now owns 27,167 shares of the company’s stock valued at $203,000 after purchasing an additional 1,296 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in ThredUp by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock worth $234,000 after purchasing an additional 1,601 shares during the last quarter. ProShare Advisors LLC boosted its position in ThredUp by 9.6% during the second quarter. ProShare Advisors LLC now owns 18,658 shares of the company’s stock worth $140,000 after purchasing an additional 1,631 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ThredUp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after purchasing an additional 2,034 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.