ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Recommendation of “Buy” from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have received an average rating of “Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.00.

Several analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Thursday, September 4th. Telsey Advisory Group increased their price objective on shares of ThredUp from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Northland Securities set a $14.00 target price on shares of ThredUp in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Wells Fargo & Company increased their price target on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 5th.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the sale, the chief financial officer directly owned 427,390 shares of the company’s stock, valued at $4,290,995.60. This trade represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the transaction, the director owned 148,197 shares in the company, valued at approximately $1,603,491.54. This represents a 41.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,000 shares of company stock worth $2,642,100. Company insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TDUP. Two Sigma Investments LP grew its holdings in shares of ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company’s stock valued at $159,000 after purchasing an additional 68,790 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in ThredUp by 122.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company’s stock valued at $1,342,000 after buying an additional 306,572 shares in the last quarter. Barclays PLC grew its stake in shares of ThredUp by 14.7% during the fourth quarter. Barclays PLC now owns 119,325 shares of the company’s stock worth $166,000 after buying an additional 15,307 shares during the last quarter. BloombergSen Inc. increased its holdings in shares of ThredUp by 98.5% during the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company’s stock worth $3,060,000 after buying an additional 630,101 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of ThredUp in the 1st quarter valued at $571,000. Institutional investors own 89.08% of the company’s stock.

ThredUp Trading Down 3.6%

Shares of TDUP stock opened at $10.73 on Wednesday. The stock has a market cap of $1.32 billion, a P/E ratio of -21.90 and a beta of 1.75. ThredUp has a 1 year low of $0.50 and a 1 year high of $12.28. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $6.43.

About ThredUp

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.