ThredUp (NASDAQ:TDUP) Releases Earnings Results, Meets Estimates

ThredUp (NASDAQ:TDUP) released its earnings results on Monday. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04), FiscalAI reports. The firm had revenue of $79.70 million for the quarter, compared to the consensus estimate of $77.17 million. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.

ThredUp Stock Up 2.7%

NASDAQ TDUP traded up $0.13 during midday trading on Monday, hitting $5.01. 6,539,148 shares of the company traded hands, compared to its average volume of 1,991,331. ThredUp has a 52 week low of $2.02 and a 52 week high of $12.28. The company’s 50-day simple moving average is $5.44 and its 200-day simple moving average is $7.84. The company has a market cap of $626.95 million, a PE ratio of -16.70 and a beta of 1.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $12.00 price objective on shares of ThredUp in a research note on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 51,220 shares of the company’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 completion of the sale, the chief financial officer directly owned 495,336 shares in the company, valued at $3,675,393.12. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Christopher Homer sold 68,358 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $507,216.36. Following the completion of the sale, the chief operating officer owned 1,170,567 shares in the company, valued at $8,685,607.14. This represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its holdings in shares of ThredUp by 39.2% during the first quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock valued at $223,000 after buying an additional 25,995 shares during the last quarter. AQR Capital Management LLC boosted its position in ThredUp by 185.9% in the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock valued at $228,000 after buying an additional 61,547 shares during the last quarter. Legal & General Group Plc raised its position in ThredUp by 135.3% during the 2nd quarter. Legal & General Group Plc now owns 16,056 shares of the company’s stock worth $120,000 after buying an additional 9,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of ThredUp by 42.6% in the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after acquiring an additional 23,156 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.