ThredUp (NASDAQ:TDUP) Given “Outperform” Rating at Telsey Advisory Group

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating reiterated by stock analysts at Telsey Advisory Group in a research report issued on Monday,Benzinga reports. They presently have a $3.00 price target on the stock. Telsey Advisory Group’s price target points to a potential upside of 17.19% from the company’s current price.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Friday, February 14th.

ThredUp Stock Down 7.9 %

NASDAQ TDUP opened at $2.56 on Monday. The stock has a 50 day moving average price of $1.99 and a 200-day moving average price of $1.32. ThredUp has a one year low of $0.50 and a one year high of $2.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market capitalization of $291.23 million, a P/E ratio of -4.00 and a beta of 1.75.

Insider Activity at ThredUp

In other news, Director Daniel J. Nova purchased 24,897 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $1.47 per share, for a total transaction of $36,598.59. Following the completion of the acquisition, the director now owns 303,930 shares of the company’s stock, valued at approximately $446,777.10. This trade represents a 8.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia Nakache sold 54,801 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $1.78, for a total value of $97,545.78. Following the completion of the transaction, the director now directly owns 247 shares in the company, valued at approximately $439.66. This trade represents a 99.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,734,538 shares of company stock worth $6,314,066 in the last quarter. 34.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after buying an additional 15,850 shares during the period. BloombergSen Inc. grew its holdings in ThredUp by 118.5% during the 3rd quarter. BloombergSen Inc. now owns 168,780 shares of the company’s stock worth $142,000 after acquiring an additional 91,518 shares in the last quarter. Privium Fund Management B.V. grew its holdings in ThredUp by 76.3% during the 3rd quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock worth $323,000 after acquiring an additional 165,935 shares in the last quarter. Needham Investment Management LLC increased its position in ThredUp by 7.2% during the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after purchasing an additional 415,000 shares during the period. Finally, State Street Corp raised its holdings in shares of ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after purchasing an additional 12,984 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.