ThredUp (NASDAQ:TDUP) Shares Up 11.2% – Still a Buy?

Shares of ThredUp Inc. (NASDAQ:TDUP) were up 11.2% during mid-day trading on Thursday . The stock traded as high as $5.87 and last traded at $5.9250. Approximately 939,626 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 2,310,527 shares. The stock had previously closed at $5.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TDUP shares. TD Cowen upped their target price on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Wells Fargo & Company lowered their price target on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Telsey Advisory Group dropped their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ThredUp has a consensus rating of “Moderate Buy” and a consensus price target of $9.14.

ThredUp Stock Performance

The stock has a market cap of $775.53 million, a PE ratio of -37.56 and a beta of 2.07. The company’s 50-day moving average price is $4.55 and its 200 day moving average price is $5.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%.The company had revenue of $81.67 million during the quarter, compared to analyst estimates of $80.17 million. On average, sell-side analysts forecast that ThredUp Inc. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 45,554 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at approximately $2,536,276.89. This trade represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the transaction, the chief operating officer directly owned 1,301,843 shares in the company, valued at $5,767,164.49. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently made changes to their positions in TDUP. Cerity Partners LLC raised its holdings in shares of ThredUp by 6.7% in the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock valued at $142,000 after buying an additional 1,190 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in ThredUp by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after acquiring an additional 1,601 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after acquiring an additional 2,034 shares during the period. Cubist Systematic Strategies LLC grew its position in ThredUp by 7.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after acquiring an additional 2,659 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in ThredUp by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock valued at $846,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.