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

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They presently have a $12.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 41.18% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Roth Capital initiated coverage on shares of ThredUp in a research note on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a report on Thursday, September 4th. Northland Capmk upgraded ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Northland Securities set a $14.00 price objective on ThredUp in a report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

ThredUp Price Performance

Shares of TDUP opened at $8.50 on Tuesday. The business’s 50-day moving average is $9.81 and its two-hundred day moving average is $8.35. The company has a market capitalization of $1.05 billion, a P/E ratio of -17.35 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $12.28.

Insider Activity at ThredUp

In other news, Director Coretha M. Rushing sold 105,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the transaction, the director owned 148,197 shares of the company’s stock, valued at approximately $1,603,491.54. The trade was a 41.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sean Sobers sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief financial officer owned 477,390 shares in the company, valued at $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 255,000 shares of company stock worth $2,642,100. Insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted 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 during the last quarter. BloombergSen Inc. lifted its holdings in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company’s stock worth $3,060,000 after acquiring an additional 630,101 shares during the last quarter. Nuveen LLC acquired a new position in shares of ThredUp in the 1st quarter worth approximately $571,000. Informed Momentum Co LLC acquired a new position in shares of ThredUp in the 1st quarter worth approximately $751,000. Finally, MYDA Advisors LLC acquired a new position in shares of ThredUp in the 1st quarter worth approximately $386,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

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.