ThredUp (NASDAQ:TDUP) Shares Gap Down – Here’s What Happened

ThredUp Inc. (NASDAQ:TDUP) gapped down before the market opened on Monday . The stock had previously closed at $5.52, but opened at $5.18. ThredUp shares last traded at $5.21, with a volume of 28,534 shares changing hands.

Wall Street Analyst Weigh In

TDUP has been the topic of several recent analyst reports. Wall Street Zen cut ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Roth Mkm began coverage on ThredUp in a research report on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $12.00 target price on shares of ThredUp in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $658.25 million, a PE ratio of -17.53 and a beta of 1.73. The firm has a fifty day moving average price of $6.78 and a 200 day moving average price of $8.44.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $77.34 million. Research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 68,358 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $507,216.36. Following the completion of the sale, the chief operating officer owned 1,170,567 shares in the company, valued at approximately $8,685,607.14. This represents a 5.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Nova bought 65,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $8.04 per share, for a total transaction of $522,600.00. Following the completion of the acquisition, the director owned 368,930 shares in the company, valued at approximately $2,966,197.20. The trade was a 21.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in shares of ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after acquiring an additional 23,156 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of ThredUp by 7.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after buying an additional 2,659 shares during the last quarter. AQR Capital Management LLC raised its position in shares of ThredUp by 185.9% during the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock valued at $228,000 after buying an additional 61,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ThredUp by 4.5% in the first 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 last quarter. Finally, Jane Street Group LLC grew its position in ThredUp by 39.2% in the first quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock worth $223,000 after acquiring an additional 25,995 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Company Profile

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.