Insider Buying: ThredUp (NASDAQ:TDUP) Director Buys $49,075.61 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Patricia Nakache bought 13,157 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the completion of the transaction, the director directly owned 14,017 shares of the company’s stock, valued at $52,283.41. This represents a 1,529.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

ThredUp Stock Performance

TDUP traded up $0.08 during midday trading on Friday, reaching $3.64. The company had a trading volume of 95,061 shares, compared to its average volume of 2,216,761. The business has a 50-day moving average of $4.99 and a two-hundred day moving average of $7.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.24. ThredUp Inc. has a 1 year low of $2.16 and a 1 year high of $12.28. The company has a market cap of $456.01 million, a P/E ratio of -24.23 and a beta of 1.72.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%.The company had revenue of $79.70 million during the quarter, compared to the consensus estimate of $77.17 million. As a group, equities research analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of ThredUp

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of ThredUp by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock valued at $48,120,000 after buying an additional 616,052 shares in the last quarter. Needham Investment Management LLC raised its stake in shares of ThredUp by 7.0% during the 4th quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company’s stock worth $38,819,000 after acquiring an additional 400,000 shares in the last quarter. Marshall Wace LLP lifted its position in ThredUp by 11.8% during the fourth quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock valued at $30,833,000 after acquiring an additional 509,195 shares during the last quarter. State Street Corp boosted its stake in ThredUp by 26.2% in the fourth quarter. State Street Corp now owns 2,886,417 shares of the company’s stock valued at $18,444,000 after acquiring an additional 598,793 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in ThredUp by 27.1% in the third quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock valued at $25,902,000 after acquiring an additional 584,506 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Wells Fargo & Company reduced their price target on ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Finally, Telsey Advisory Group decreased their price objective on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, ThredUp has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.