ThredUp (NASDAQ:TDUP) Director Buys 10,000 Shares of Company Stock

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman bought 10,000 shares of the stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of $1.34 per share, for a total transaction of $13,400.00. Following the completion of the transaction, the director owned 471,661 shares of the company’s stock, valued at approximately $632,025.74. The trade was a 2.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

ThredUp Stock Performance

NASDAQ:TDUP traded up $0.08 during trading hours on Monday, reaching $1.36. 1,750,185 shares of the company’s stock were exchanged, compared to its average volume of 2,284,224. ThredUp Inc. has a 1-year low of $1.24 and a 1-year high of $8.76. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $179.27 million, a price-to-earnings ratio of -7.58 and a beta of 2.18. The company has a 50-day moving average of $2.30 and a 200 day moving average of $4.07.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. ThredUp had a negative net margin of 6.89% and a negative return on equity of 39.12%. The company had revenue of $88.23 million for the quarter, compared to analyst estimates of $88.05 million. Research analysts anticipate that ThredUp Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On ThredUp

A number of large investors have recently modified their holdings of TDUP. Abel Hall LLC acquired a new stake in shares of ThredUp in the 1st quarter valued at approximately $39,000. IFP Advisors Inc grew its holdings in ThredUp by 634.8% during the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock worth $48,000 after acquiring an additional 6,081 shares during the period. Vise Technologies Inc. acquired a new position in ThredUp during the third quarter worth $59,000. HB Wealth Management LLC purchased a new position in ThredUp in the second quarter worth $71,000. Finally, Chicago Partners Investment Group LLC purchased a new position in ThredUp in the first quarter worth $79,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TDUP. Wells Fargo & Company decreased their price objective on ThredUp from $8.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen started coverage on shares of ThredUp in a research report on Friday, October 30th. They issued a “strong-buy” rating on the stock. William Blair cut shares of ThredUp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Telsey Advisory Group cut their price objective on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Northland Securities cut 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. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.64.

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.