Insider Selling: ThredUp Inc. (NASDAQ:TDUP) CFO Sells 100,000 Shares of Stock

Key Points

• ThredUp's CFO, Sean Sobers, sold 100,000 shares at an average price of $10.04, totaling approximately $1 million, reducing his ownership by 17.32%.
• The company's recent earnings report showed a loss of $0.04 EPS but beat expectations, with revenues of $71.29 million surpassing the forecasted $67.54 million.
• Several analysts have recently upgraded their ratings and price targets for ThredUp, with an average target price now at $13.00, indicating a potential for upside in the stock's value.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) CFO Sean Sobers sold 100,000 shares of ThredUp stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 477,390 shares in the company, valued at $4,792,995.60. The trade was a 17.32% 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 link.

Sean Sobers also recently made the following trade(s):

• On Thursday, August 7th, Sean Sobers sold 50,000 shares of ThredUp stock. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00.

ThredUp Stock Performance

Shares of NASDAQ TDUP traded up $0.10 during trading on Friday, hitting $10.00. 2,736,043 shares of the company were exchanged, compared to its average volume of 2,338,225. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $11.00. The firm's fifty day moving average price is $7.86 and its 200 day moving average price is $5.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.92.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $71.29 million for the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative net margin of 19.66% and a negative return on equity of 71.49%. As a group, analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

Institutional Investors Weigh In On ThredUp

Several institutional investors have recently made changes to their positions in TDUP. SG Americas Securities LLC boosted its position in shares of ThredUp by 5.0% in the 2nd quarter. SG Americas Securities LLC now owns 27,167 shares of the company's stock worth $203,000 after buying an additional 1,296 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of ThredUp by 9.6% in the 2nd quarter. ProShare Advisors LLC now owns 18,658 shares of the company's stock worth $140,000 after buying an additional 1,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock worth $115,000 after buying an additional 2,034 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of ThredUp by 7.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company's stock worth $90,000 after buying an additional 2,659 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of ThredUp by 3.0% in the 1st quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock worth $241,000 after buying an additional 2,928 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TDUP shares. Northland Securities set a $14.00 price objective on shares of ThredUp in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Telsey Advisory Group boosted their price objective on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $13.00.

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.

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