Traders Buy Large Volume of Call Options on ThredUp (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) was the recipient of unusually large options trading activity on Monday. Investors bought 2,603 call options on the stock. This represents an increase of approximately 1,517% compared to the average volume of 161 call options.

Insider Buying and Selling

In related news, Director Daniel J. Nova acquired 45,191 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $0.97 per share, for a total transaction of $43,835.27. Following the completion of the purchase, the director now owns 54,112 shares in the company, valued at approximately $52,488.64. The trade was a 506.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Noam Paransky bought 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, for a total transaction of $32,406.48. Following the transaction, the director now directly owns 586,452 shares of the company’s stock, valued at $475,026.12. This trade represents a 7.32 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 254,805 shares of company stock worth $297,311 and have sold 59,601 shares worth $106,042. Insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDUP. Blair William & Co. IL boosted its holdings in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after purchasing an additional 674,852 shares in the last quarter. BloombergSen Inc. acquired a new stake in ThredUp in the 2nd quarter valued at $131,000. SG Americas Securities LLC grew its position in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after acquiring an additional 15,850 shares during the period. Sei Investments Co. acquired a new position in ThredUp during the second quarter worth $37,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of ThredUp by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after purchasing an additional 20,933 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Trading Up 1.1 %

Shares of TDUP stock opened at $1.79 on Wednesday. The firm has a fifty day moving average of $1.02 and a 200-day moving average of $1.27. The stock has a market cap of $203.63 million, a price-to-earnings ratio of -2.73 and a beta of 1.59. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, ThredUp currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

ThredUp Company Profile

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.