Telsey Advisory Group Reaffirms Outperform Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group restated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research note issued to investors on Monday,Benzinga reports. Telsey Advisory Group currently has a $3.00 target price on the stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a report on Friday, February 14th.

ThredUp Stock Performance

Shares of NASDAQ:TDUP opened at $2.56 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. ThredUp has a 12-month low of $0.50 and a 12-month high of $2.99. The business has a 50 day moving average of $2.01 and a two-hundred day moving average of $1.34. The company has a market capitalization of $291.23 million, a PE ratio of -4.00 and a beta of 1.75.

Insider Activity at ThredUp

In other news, Director Patricia Nakache sold 19,685 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $2.50, for a total transaction of $49,212.50. Following the transaction, the director now owns 250,956 shares in the company, valued at $627,390. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Nova purchased 24,897 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $1.47 per share, for a total transaction of $36,598.59. Following the purchase, the director now directly owns 303,930 shares in the company, valued at $446,777.10. This trade represents a 8.92 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,794,812 shares of company stock worth $6,477,408 in the last 90 days. Corporate insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of 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 purchasing an additional 15,850 shares during the period. ProShare Advisors LLC lifted its stake in ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock valued at $31,000 after buying an additional 7,287 shares in the last quarter. Virtu Financial LLC acquired a new stake in ThredUp in the 4th quarter worth about $33,000. Cubist Systematic Strategies LLC purchased a new stake in ThredUp during the 4th quarter worth approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ThredUp by 9.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock worth $63,000 after buying an additional 3,908 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.