ThredUp (NASDAQ:TDUP) CFO Sells $114,962.22 in Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $114,962.22. Following the completion of the sale, the chief financial officer owned 613,503 shares of the company’s stock, valued at approximately $1,582,837.74. This trade represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Performance

ThredUp stock opened at $2.72 on Friday. The stock has a 50-day simple moving average of $4.85 and a 200 day simple moving average of $4.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. ThredUp Inc. has a 12-month low of $2.48 and a 12-month high of $11.90. The stock has a market capitalization of $357.22 million, a price-to-earnings ratio of -16.00 and a beta of 1.97.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $90.77 million for the quarter, compared to the consensus estimate of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. On average, research analysts anticipate that ThredUp Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of ThredUp by 6.7% during the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after buying an additional 1,601 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ThredUp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after buying an additional 2,034 shares during the period. Cubist Systematic Strategies LLC boosted its stake in ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after acquiring an additional 2,659 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in ThredUp by 3.3% in the third quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock valued at $846,000 after acquiring an additional 2,900 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TDUP. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Roth Capital restated a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a research report on Thursday, August 6th. Finally, Telsey Advisory Group reduced their price objective on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.55.

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.