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

Shares of ThredUp Inc. (NASDAQ:TDUP) gapped up prior to trading on Tuesday . The stock had previously closed at $4.37, but opened at $4.69. ThredUp shares last traded at $4.8060, with a volume of 816,880 shares trading hands.

Wall Street Analyst Weigh In

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

ThredUp Price Performance

The company has a market cap of $625.04 million, a PE ratio of -30.75 and a beta of 2.07. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $3.93 and a 200-day simple moving average of $5.77.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The business had revenue of $81.67 million during the quarter, compared to analyst estimates of $80.17 million. As a group, research analysts predict that ThredUp Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other news, CFO Sean Sobers sold 56,504 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $215,845.28. Following the completion of the sale, the chief financial officer owned 555,254 shares in the company, valued at approximately $2,121,070.28. This represents a 9.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia Nakache acquired 13,157 shares of the stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $3.73 per share, with a total value of $49,075.61. Following the transaction, the director directly owned 14,017 shares in the company, valued at approximately $52,283.41. This represents a 1,529.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 23.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC boosted its holdings in ThredUp by 170.1% in the first quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock worth $4,771,000 after acquiring an additional 916,000 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of ThredUp during the first quarter valued at about $79,000. R Squared Ltd acquired a new position in shares of ThredUp during the first quarter valued at about $34,000. Abel Hall LLC purchased a new position in shares of ThredUp in the 1st quarter valued at approximately $39,000. Finally, Inspire Investing LLC raised its position in shares of ThredUp by 113.5% in the 1st quarter. Inspire Investing LLC now owns 158,228 shares of the company’s stock valued at $519,000 after purchasing an additional 84,106 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.