ThredUp Inc. (NASDAQ:TDUP) Short Interest Down 13.3% in February

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 13.3% from the February 13th total of 4,200,000 shares. Based on an average trading volume of 921,800 shares, the short-interest ratio is currently 3.9 days. Approximately 4.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TDUP shares. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th.

ThredUp Stock Down 5.9 %

TDUP stock opened at $2.23 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $2.30 and its 200 day moving average is $1.52. The stock has a market cap of $259.11 million, a price-to-earnings ratio of -3.48 and a beta of 1.73. ThredUp has a 1-year low of $0.50 and a 1-year high of $2.99.

Insider Transactions at ThredUp

In other news, Director Patricia Nakache sold 60,274 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $2.71, for a total value of $163,342.54. Following the completion of the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at $680,090.76. This trade represents a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,693,535 shares of company stock valued at $6,297,600 over the last three months. Company insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its position in shares of ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC bought a new position in ThredUp during the fourth quarter valued at approximately $33,000. Cubist Systematic Strategies LLC bought a new position in ThredUp during the fourth quarter valued at approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ThredUp by 9.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock valued at $63,000 after acquiring an additional 3,908 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in ThredUp during the fourth quarter valued at approximately $64,000. 89.08% of the stock is currently owned by institutional investors.

About ThredUp

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.