ThredUp (NASDAQ:TDUP) CFO Sean Sobers Sells 45,554 Shares

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 45,554 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer owned 572,523 shares in the company, valued at $2,536,276.89. This represents a 7.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Price Performance

TDUP stock opened at $4.57 on Thursday. ThredUp Inc. has a 52 week low of $3.08 and a 52 week high of $12.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $4.13 and a two-hundred day simple moving average of $5.20. The firm has a market capitalization of $589.71 million, a P/E ratio of -28.56 and a beta of 2.07.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. Analysts anticipate that ThredUp Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

TDUP has been the subject of several analyst reports. Telsey Advisory Group lowered their price objective on ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Wells Fargo & Company dropped 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, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Finally, TD Cowen raised their target price on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ThredUp presently has an average rating of “Moderate Buy” and an average target price of $9.14.

Institutional Investors Weigh In On ThredUp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Divisadero Street Capital Management LP bought a new position in ThredUp in the 3rd quarter valued at $9,396,000. Vanguard Group Inc. lifted its position in shares of ThredUp by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,914,427 shares of the company’s stock worth $65,341,000 after purchasing an additional 398,865 shares during the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of ThredUp during the fourth quarter worth $3,441,000. Penn Capital Management Company LLC purchased a new stake in shares of ThredUp during the fourth quarter valued at $1,567,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of ThredUp in the third quarter worth about $7,389,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.