ThredUp (NASDAQ:TDUP) Posts Quarterly Earnings Results, Hits Estimates

ThredUp (NASDAQ:TDUP) posted its earnings results on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04), FiscalAI reports. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.The firm had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.17 million.

ThredUp Stock Up 2.7%

TDUP traded up $0.13 during midday trading on Monday, reaching $5.01. The company’s stock had a trading volume of 6,381,960 shares, compared to its average volume of 1,967,370. ThredUp has a 1 year low of $2.02 and a 1 year high of $12.28. The stock’s 50-day moving average is $5.44 and its 200-day moving average is $7.84. The firm has a market capitalization of $626.95 million, a price-to-earnings ratio of -16.70 and a beta of 1.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

Several research analysts have commented on TDUP shares. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $12.00 price target on shares of ThredUp in a research note on Tuesday, December 9th. Finally, Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ThredUp presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Insider Activity at ThredUp

In other news, COO Christopher Homer sold 68,358 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $507,216.36. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $380,052.40. Following the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at $3,675,393.12. The trade was a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 27.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ThredUp

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after buying an additional 23,156 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after acquiring an additional 2,659 shares during the period. AQR Capital Management LLC boosted its stake in 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 purchasing an additional 61,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ThredUp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in ThredUp by 39.2% during the first quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock valued at $223,000 after acquiring an additional 25,995 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.