ThredUp’s (TDUP) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report released on Monday,Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Friday, February 14th.

ThredUp Stock Performance

Shares of TDUP opened at $2.50 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. ThredUp has a 1 year low of $0.50 and a 1 year high of $2.99. The firm has a fifty day moving average of $2.05 and a 200-day moving average of $1.36. The company has a market cap of $284.40 million, a price-to-earnings ratio of -3.91 and a beta of 1.75.

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $1.77, for a total transaction of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares in the company, valued at approximately $444,192.12. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 2,794,812 shares of company stock valued at $6,477,408 over the last 90 days. 34.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the period. ProShare Advisors LLC increased its stake in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC acquired a new position in ThredUp during the fourth quarter worth $33,000. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp in the 4th quarter valued at approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ThredUp by 9.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock valued at $63,000 after purchasing an additional 3,908 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.