MYDA Advisors LLC Invests $386,000 in ThredUp Inc. $TDUP

Key Points

• MYDA Advisors LLC has made a new investment in ThredUp Inc. by purchasing 160,000 shares worth approximately $386,000, acquiring a 0.14% stake in the company.
• Several analysts have upgraded ThredUp's stock rating, with Northland Capital Markets suggesting a strong-buy rating and setting a target price at $14.00.
• Insider selling has been notable, with Director Coretha M. Rushing selling 105,000 shares and CFO Sean Sobers selling 50,000 shares in recent transactions, indicating a potential decrease in management confidence.

MYDA Advisors LLC purchased a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 160,000 shares of the company's stock, valued at approximately $386,000. MYDA Advisors LLC owned approximately 0.14% of ThredUp at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TDUP. JPMorgan Chase & Co. boosted its stake in ThredUp by 450.6% in the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock valued at $280,000 after buying an additional 165,115 shares in the last quarter. Wells Fargo & Company MN boosted its stake in ThredUp by 32.1% in the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock valued at $80,000 after buying an additional 13,941 shares in the last quarter. Barclays PLC boosted its stake in ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock valued at $166,000 after buying an additional 15,307 shares in the last quarter. XTX Topco Ltd acquired a new stake in ThredUp in the 4th quarter valued at $105,000. Finally, Northern Trust Corp boosted its stake in ThredUp by 13.0% in the 4th quarter. Northern Trust Corp now owns 733,725 shares of the company's stock valued at $1,020,000 after buying an additional 84,353 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Coretha M. Rushing sold 105,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean Sobers sold 50,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the sale, the chief financial officer owned 427,390 shares of the company's stock, valued at approximately $4,290,995.60. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by corporate insiders.

ThredUp Price Performance

TDUP traded down $0.55 during trading on Tuesday, hitting $10.27. The company's stock had a trading volume of 1,412,724 shares, compared to its average volume of 1,909,551. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -20.97 and a beta of 1.75. ThredUp Inc. has a 12 month low of $0.50 and a 12 month 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 firm's 50 day moving average price is $8.91 and its two-hundred day moving average price is $6.11.

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.