Sean Sobers Sells 44,559 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer owned 613,503 shares in the company, valued at $1,582,837.74. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Down 1.5%

Shares of NASDAQ:TDUP opened at $2.67 on Friday. ThredUp Inc. has a 52-week low of $2.48 and a 52-week high of $11.90. The company has a market capitalization of $350.65 million, a PE ratio of -15.70 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average of $4.93 and a 200-day moving average of $4.56.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $90.77 million for the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. On average, equities analysts predict that ThredUp Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of ThredUp in the 3rd quarter valued at about $37,000. Raymond James Financial Inc. bought a new position in shares of ThredUp during the second quarter worth about $32,000. Meeder Asset Management Inc. lifted its stake in shares of ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after acquiring an additional 5,424 shares during the period. HB Wealth Management LLC acquired a new position in shares of ThredUp in the second quarter worth approximately $71,000. Finally, R Squared Ltd bought a new stake in ThredUp in the first quarter valued at approximately $34,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TDUP. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Telsey Advisory Group dropped their price objective on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Roth Capital reissued a “buy” rating and set a $6.50 target price on shares of ThredUp in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.55.

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.