ThredUp Inc. (NASDAQ:TDUP) Given Average Rating of “Moderate Buy” by Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $12.50.

Several research firms have commented on TDUP. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Roth Mkm initiated coverage on shares of ThredUp in a research note on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $12.00 price target on shares of ThredUp in a research report on Tuesday, December 9th.

ThredUp Stock Down 6.7%

Shares of TDUP opened at $4.62 on Friday. The stock has a market capitalization of $578.15 million, a price-to-earnings ratio of -15.40 and a beta of 1.72. ThredUp has a 1 year low of $2.02 and a 1 year high of $12.28. The business’s 50 day simple moving average is $6.25 and its 200-day simple moving average is $8.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.

Insider Activity

In other news, COO Christopher Homer sold 68,358 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $507,216.36. Following the transaction, the chief operating officer directly owned 1,170,567 shares of the company’s stock, valued at approximately $8,685,607.14. This represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $380,052.40. Following the completion of the sale, the chief financial officer directly owned 495,336 shares of the company’s stock, valued at $3,675,393.12. The trade was a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Vanguard Group Inc. increased its holdings in shares of ThredUp by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock valued at $48,120,000 after acquiring an additional 616,052 shares in the last quarter. Marshall Wace LLP boosted its stake in ThredUp by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock worth $32,758,000 after purchasing an additional 1,492,015 shares in the last quarter. Millennium Management LLC grew its position in ThredUp by 27.1% during the 3rd quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock worth $25,902,000 after purchasing an additional 584,506 shares during the last quarter. Geode Capital Management LLC increased its stake in ThredUp by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,416,626 shares of the company’s stock valued at $15,445,000 after purchasing an additional 161,967 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of ThredUp by 263.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock worth $19,432,000 after buying an additional 1,491,020 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.