Christopher Homer Sells 61,578 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 61,578 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total value of $272,790.54. Following the transaction, the chief operating officer directly owned 1,301,843 shares of the company’s stock, valued at approximately $5,767,164.49. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Up 5.0%

TDUP stock opened at $4.80 on Friday. The firm has a market cap of $619.39 million, a PE ratio of -30.00 and a beta of 2.07. The business has a 50 day moving average of $4.16 and a 200 day moving average of $5.18. ThredUp Inc. has a twelve month low of $3.08 and a twelve month 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.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company reduced their target price on ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Telsey Advisory Group reduced their target price on ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th. Finally, TD Cowen lifted their target price on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Two equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, ThredUp currently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently modified their holdings of TDUP. Bank of America Corp DE boosted its stake in shares of ThredUp by 42.6% in the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after buying an additional 23,156 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of ThredUp by 7.6% in 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 boosted its stake in shares of ThredUp by 185.9% in the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock worth $228,000 after buying an additional 61,547 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after buying an additional 2,034 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of ThredUp by 39.2% in the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock worth $223,000 after buying an additional 25,995 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.