ThredUp Inc. (NASDAQ:TDUP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.33.

TDUP has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a research note on Tuesday, August 6th.

ThredUp Stock Down 1.0 %

Shares of NASDAQ TDUP opened at $0.88 on Wednesday. The firm has a market cap of $97.15 million, a PE ratio of -1.38 and a beta of 0.71. ThredUp has a 12-month low of $0.61 and a 12-month high of $4.14. The company’s fifty day simple moving average is $1.16 and its 200 day simple moving average is $1.59. The company has a quick ratio of 0.92, a current ratio of 1.06 and a debt-to-equity ratio of 0.23.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period in the prior year, the company earned ($0.18) earnings per share. As a group, sell-side analysts forecast that ThredUp will post -0.54 earnings per share for the current fiscal year.

Insider Activity at ThredUp

In other news, Director Noam Paransky purchased 40,008 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the transaction, the director now directly owns 586,452 shares of the company’s stock, valued at $475,026.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Noam Paransky purchased 40,008 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the transaction, the director now directly owns 586,452 shares of the company’s stock, valued at $475,026.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia Nakache sold 119,221 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1.78, for a total transaction of $212,213.38. Following the transaction, the director now directly owns 240,438 shares in the company, valued at $427,979.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 385,008 shares of company stock valued at $308,906 and have sold 367,645 shares valued at $703,755. 34.42% of the stock is owned by insiders.

Institutional Trading of ThredUp

A number of large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new stake in ThredUp during the second quarter worth about $43,000. Creekside Partners purchased a new stake in ThredUp during the second quarter worth about $51,000. Squarepoint Ops LLC increased its holdings in ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after buying an additional 169,196 shares during the last quarter. Marshall Wace LLP increased its stake in shares of ThredUp by 37.4% in the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after purchasing an additional 209,792 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of ThredUp in the second quarter worth about $37,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.