ThredUp (NASDAQ:TDUP) COO Sells 60,230 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the transaction, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at $3,517,463.64. This represents a 4.23% 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.

ThredUp Stock Up 7.5%

Shares of ThredUp stock traded up $0.19 during trading hours on Wednesday, reaching $2.71. 3,467,139 shares of the company were exchanged, compared to its average volume of 2,373,730. The firm has a market cap of $355.92 million, a PE ratio of -15.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. ThredUp Inc. has a 1 year low of $2.48 and a 1 year high of $11.90. The stock’s fifty day moving average is $5.09 and its 200 day moving average is $4.58.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $90.77 million during the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. As a group, equities research analysts forecast that ThredUp Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently added to or reduced their stakes in TDUP. Quarry LP acquired a new stake in ThredUp during the third quarter worth approximately $37,000. Raymond James Financial Inc. acquired a new position in shares of ThredUp in the 2nd quarter valued at $32,000. Meeder Asset Management Inc. grew its position in shares of ThredUp by 552.9% in the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after buying an additional 5,424 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of ThredUp in the 2nd quarter valued at $71,000. Finally, R Squared Ltd acquired a new stake in ThredUp during the 1st quarter worth $34,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TDUP. Wells Fargo & Company decreased their price target on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Roth Capital restated a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th. TD Cowen lifted their price objective on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Finally, Telsey Advisory Group decreased their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.55.

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.