ThredUp (NASDAQ:TDUP) COO Sells $272,790.54 in Stock

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 61,578 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the transaction, the chief operating officer owned 1,301,843 shares of the company’s stock, valued at $5,767,164.49. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Trading Up 0.4%

Shares of NASDAQ:TDUP opened at $4.82 on Friday. The stock has a market capitalization of $621.97 million, a price-to-earnings ratio of -30.13 and a beta of 2.07. ThredUp Inc. has a 1-year low of $3.08 and a 1-year high of $12.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average price of $4.18 and a 200 day moving average price of $5.18.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $81.67 million during the quarter, compared to analysts’ expectations of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. On average, research analysts anticipate that ThredUp Inc. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On ThredUp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in ThredUp in the 2nd quarter worth approximately $32,000. R Squared Ltd purchased a new stake in ThredUp in the 1st quarter worth approximately $34,000. Quarry LP purchased a new stake in ThredUp in the 3rd quarter worth approximately $37,000. Abel Hall LLC purchased a new stake in ThredUp in the 1st quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. lifted its position in ThredUp by 552.9% in the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after buying an additional 5,424 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TDUP shares. Telsey Advisory Group reduced their target price on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. TD Cowen raised their target price on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Wells Fargo & Company reduced their target price on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.14.

ThredUp Company Profile

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.