ThredUp (NASDAQ:TDUP) Price Target Raised to $3.00 at Telsey Advisory Group

ThredUp (NASDAQ:TDUP) had its target price raised by Telsey Advisory Group from $2.00 to $3.00 in a report published on Wednesday morning, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday.

ThredUp Trading Up 19.6 %

Shares of ThredUp stock opened at $2.26 on Wednesday. ThredUp has a one year low of $0.50 and a one year high of $2.42. 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 firm has a fifty day moving average of $1.40 and a two-hundred day moving average of $1.20.

Insider Activity

In other ThredUp news, Director Patricia Nakache sold 41,676 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $1.77, for a total transaction of $73,766.52. Following the sale, the director now directly owns 250,956 shares in the company, valued at approximately $444,192.12. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Nova purchased 45,191 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $0.97 per share, with a total value of $43,835.27. Following the transaction, the director now owns 54,112 shares of the company’s stock, valued at approximately $52,488.64. This represents a 506.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 214,797 shares of company stock worth $264,905 and sold 101,277 shares worth $179,808. Insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after acquiring an additional 15,850 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of ThredUp in the second quarter valued at approximately $37,000. Cubist Systematic Strategies LLC purchased a new position in shares of ThredUp during the 2nd quarter worth approximately $43,000. Creekside Partners acquired a new position in shares of ThredUp during the 2nd quarter worth approximately $51,000. Finally, Barclays PLC lifted its stake in ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock valued at $87,000 after buying an additional 76,553 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other 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.