Christopher Homer Sells 60,230 Shares of ThredUp (NASDAQ:TDUP) Stock

Key Points

• ThredUp COO Christopher Homer sold 60,230 shares at an average price of $2.58, totaling $155,393. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct holdings by 4.23%.
• TDUP shares rose 7.5% to $2.71, but remain near their one-year low of $2.48 and well below the 50-day and 200-day moving averages. ThredUp reported a quarterly loss of $0.05 per share, missing analysts’ $0.03 loss estimate, despite revenue slightly exceeding expectations.
• Analyst sentiment remains a consensus “Moderate Buy,” with a $6.55 average price target, while institutional investors and hedge funds own approximately 89.08% of the company.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) COO Christopher Homer sold 60,230 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the sale, the chief operating officer directly owned 1,363,358 shares of the company's stock, valued at $3,517,463.64. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Trading Up 7.5%

TDUP stock traded up $0.19 during trading on Wednesday, reaching $2.71. 3,467,139 shares of the stock were exchanged, compared to its average volume of 2,373,730. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $5.09 and a 200-day moving average price of $4.58. ThredUp Inc. has a 1 year low of $2.48 and a 1 year high of $11.90. The firm has a market capitalization of $355.92 million, a price-to-earnings ratio of -15.94 and a beta of 1.98.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $90.77 million during the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. On average, research analysts predict that ThredUp Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TDUP shares. Roth Capital reissued a "buy" rating and set a $6.50 target price on shares of ThredUp in a research note on Thursday, August 6th. Wells Fargo & Company decreased their price target on ThredUp from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of ThredUp in a report on Wednesday, June 24th. Telsey Advisory Group cut their price objective on ThredUp from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Finally, TD Cowen boosted their price objective on shares of ThredUp from $5.00 to $5.70 and gave the company a "buy" rating in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.55.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in ThredUp by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company's stock valued at $48,120,000 after acquiring an additional 616,052 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of ThredUp by 7.0% during the fourth quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company's stock worth $38,819,000 after purchasing an additional 400,000 shares in the last quarter. Marshall Wace LLP lifted its position in shares of ThredUp by 11.8% during the fourth quarter. Marshall Wace LLP now owns 4,825,251 shares of the company's stock worth $30,833,000 after purchasing an additional 509,195 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of ThredUp by 19.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company's stock valued at $9,727,000 after purchasing an additional 473,907 shares during the period. Finally, State Street Corp boosted its stake in shares of ThredUp by 26.2% in the fourth quarter. State Street Corp now owns 2,886,417 shares of the company's stock valued at $18,444,000 after purchasing an additional 598,793 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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