ThredUp (NASDAQ:TDUP) Stock Price Up 3.1%

ThredUp Inc. (NASDAQ:TDUP)’s share price rose 3.1% on Friday . The stock traded as high as $2.02 and last traded at $2.00. Approximately 849,877 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 725,319 shares. The stock had previously closed at $1.94.

Analyst Upgrades and Downgrades

TDUP has been the topic of several research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price objective on shares of ThredUp in a research note on Tuesday, March 5th. Wedbush restated an “outperform” rating and set a $4.00 price target on shares of ThredUp in a research note on Tuesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of ThredUp in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group dropped their price target on shares of ThredUp from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.67.

ThredUp Trading Up 3.1 %

The company has a current ratio of 1.22, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $2.02 and its 200-day moving average is $2.41. The firm has a market capitalization of $217.66 million, a P/E ratio of -2.94 and a beta of 0.63.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $81.39 million for the quarter, compared to the consensus estimate of $80.30 million. ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. During the same period in the prior year, the company posted ($0.19) earnings per share. As a group, sell-side analysts anticipate that ThredUp Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other news, major shareholder Gs Investment Strategies, Llc sold 30,397 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $2.13, for a total transaction of $64,745.61. Following the completion of the transaction, the insider now directly owns 3,710,048 shares of the company’s stock, valued at approximately $7,902,402.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James G. Reinhart sold 11,612 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.27, for a total transaction of $26,359.24. Following the completion of the transaction, the chief executive officer now directly owns 485,519 shares of the company’s stock, valued at approximately $1,102,128.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gs Investment Strategies, Llc sold 30,397 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $2.13, for a total transaction of $64,745.61. Following the sale, the insider now owns 3,710,048 shares of the company’s stock, valued at approximately $7,902,402.24. The disclosure for this sale can be found here. Insiders sold a total of 59,780 shares of company stock valued at $126,652 in the last ninety days. Company insiders own 38.68% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of ThredUp by 130.3% during the 3rd quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock worth $2,978,000 after purchasing an additional 420,366 shares in the last quarter. Blair William & Co. IL acquired a new stake in ThredUp in the 3rd quarter valued at about $48,000. Bourgeon Capital Management LLC acquired a new stake in ThredUp in the 3rd quarter valued at about $2,783,000. Boston Partners acquired a new stake in ThredUp in the 3rd quarter valued at about $596,000. Finally, New York State Common Retirement Fund increased its position in ThredUp by 2,363.3% in the 3rd quarter. New York State Common Retirement Fund now owns 30,422 shares of the company’s stock valued at $122,000 after acquiring an additional 29,187 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.