Coretha 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 Rushing sold 105,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the sale, the director owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This trade represents a 41.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ThredUp Stock Up 3.4%

Shares of ThredUp stock traded up $0.40 on Monday, hitting $12.08. 2,974,186 shares of the company's stock traded hands, compared to its average volume of 1,901,975. ThredUp Inc. has a 52-week low of $0.50 and a 52-week high of $12.28. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.49 billion, a P/E ratio of -24.65 and a beta of 1.73. The firm's 50-day moving average is $8.54 and its 200 day moving average is $5.74.

Analyst Upgrades and Downgrades

TDUP has been the subject of several recent analyst reports. Northland Securities set a $14.00 price objective on shares of ThredUp in a report on Tuesday, August 5th. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wells Fargo & Company boosted their price objective on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Telsey Advisory Group upped their price objective on ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. One investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.00.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently made changes to their positions in the business. Cerity Partners LLC grew its holdings in ThredUp by 6.7% in the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company's stock worth $142,000 after buying an additional 1,190 shares in the last quarter. SG Americas Securities LLC boosted its position in ThredUp by 5.0% during the 2nd quarter. SG Americas Securities LLC now owns 27,167 shares of the company's stock worth $203,000 after acquiring an additional 1,296 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company's stock worth $234,000 after purchasing an additional 1,601 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of ThredUp by 9.6% during the second quarter. ProShare Advisors LLC now owns 18,658 shares of the company's stock valued at $140,000 after purchasing an additional 1,631 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ThredUp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock valued at $115,000 after purchasing an additional 2,034 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

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.

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