ThredUp (NASDAQ:TDUP) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of ThredUp (NASDAQ:TDUP) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

TDUP has been the topic of a number of other research reports. TD Cowen began coverage on shares of ThredUp in a research report on Friday, October 30th. They issued a “strong-buy” rating on the stock. Northland Securities downgraded shares of ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 target price for the company. in a research note on Thursday. Telsey Advisory Group lowered their target price on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating and issued a $6.50 price target on shares of ThredUp in a report on Thursday, August 6th. Finally, William Blair lowered ThredUp from an “outperform” rating to a “market perform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.64.

ThredUp Stock Down 11.4%

Shares of NASDAQ TDUP opened at $1.28 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $168.76 million, a PE ratio of -7.14 and a beta of 2.18. The stock’s fifty day simple moving average is $2.30 and its two-hundred day simple moving average is $4.07. ThredUp has a 12-month low of $1.28 and a 12-month high of $8.76.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $88.23 million for the quarter, compared to the consensus estimate of $88.05 million. ThredUp had a negative return on equity of 39.23% and a negative net margin of 6.89%. As a group, analysts expect that ThredUp will post -0.17 EPS for the current fiscal year.

Insider Activity at ThredUp

In related news, COO Christopher Homer sold 60,230 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the transaction, the chief operating officer owned 1,363,358 shares in the company, valued at $3,517,463.64. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $114,962.22. Following the transaction, the chief financial officer directly owned 613,503 shares of the company’s stock, valued at $1,582,837.74. The trade was a 6.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is owned by insiders.

Institutional Trading of ThredUp

Large investors have recently made changes to their positions in the company. CI Investments Inc. purchased a new stake in shares of ThredUp in the 1st quarter valued at approximately $5,937,000. Readystate Asset Management LP boosted its position in shares of ThredUp by 197.4% during the 2nd quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock worth $10,335,000 after purchasing an additional 1,001,482 shares during the period. Zweig DiMenna Associates LLC increased its holdings in ThredUp by 170.1% in the 1st quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock valued at $4,771,000 after purchasing an additional 916,000 shares during the last quarter. ProShare Advisors LLC increased its holdings in ThredUp by 5,274.0% in the 3rd quarter. ProShare Advisors LLC now owns 740,542 shares of the company’s stock valued at $1,570,000 after purchasing an additional 726,762 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in ThredUp by 19.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock valued at $9,727,000 after purchasing an additional 473,907 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.