Coretha M. Rushing Sells 105,000 Shares of ThredUp (NASDAQ:TDUP) Stock

Key Points

• ThredUp Inc. director Coretha Rushing sold 105,000 shares of stock at an average price of $10.82, totaling over $1.1 million, reducing their ownership by 41.47% to 148,197 shares.
• The company's stock increased by 3.4% on Monday, reaching $12.08, with trading volume significantly higher than average.
• Recent analyst upgrades have set a price target for ThredUp shares between $12.00 and $14.00, with the consensus rating at "Buy."

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) Director Coretha M. Rushing sold 105,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the sale, the director owned 148,197 shares in the company, valued at $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ThredUp Price Performance

Shares of TDUP stock traded down $0.38 on Friday, hitting $10.82. 1,336,436 shares of the stock traded hands, compared to its average volume of 2,684,194. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -22.08 and a beta of 1.73. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $12.28. The firm has a 50 day simple moving average of $8.86 and a two-hundred day simple moving average of $6.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Northland Securities set a $14.00 price objective on shares of ThredUp in a research report on Tuesday, August 5th. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Wells Fargo & Company lifted their price target on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of ThredUp from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Telsey Advisory Group lifted their price target on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, ThredUp currently has an average rating of "Buy" and a consensus price target of $13.00.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently bought and sold shares of TDUP. Marshall Wace LLP raised its holdings in ThredUp by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company's stock worth $32,758,000 after buying an additional 1,492,015 shares during the period. Prudential Financial Inc. raised its holdings in ThredUp by 3,625.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company's stock worth $9,221,000 after buying an additional 1,198,043 shares during the period. Invesco Ltd. raised its holdings in ThredUp by 3,682.1% during the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company's stock worth $8,504,000 after buying an additional 1,105,332 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in ThredUp during the 1st quarter worth about $2,338,000. Finally, Blair William & Co. IL increased its holdings in shares of ThredUp by 46.3% in the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after purchasing an additional 939,449 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

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.