ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers Sells 100,000 Shares

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 the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total value of $1,004,000.00. Following the transaction, the chief financial officer owned 477,390 shares in the company, valued at approximately $4,792,995.60. This represents a 17.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

ThredUp Stock Up 0.6%

Shares of NASDAQ TDUP traded up $0.07 during mid-day trading on Wednesday, hitting $10.36. 321,613 shares of the stock traded hands, compared to its average volume of 1,892,562. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -21.04 and a beta of 1.73. The stock has a fifty day moving average price of $8.03 and a 200-day moving average price of $5.25. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp in the 1st quarter worth about $25,000. CHICAGO TRUST Co NA purchased a new stake in ThredUp in the first quarter worth about $30,000. ProShare Advisors LLC increased its stake in shares of ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock valued at $31,000 after purchasing an additional 7,287 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp during the fourth quarter valued at approximately $48,000. Finally, Voya Investment Management LLC purchased a new position in shares of ThredUp during the first quarter valued at approximately $51,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TDUP shares. Wells Fargo & Company boosted their target price on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. 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. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Northland Securities set a $14.00 price target on shares of ThredUp in a research report on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ThredUp has a consensus rating of "Buy" and an average price target of $13.00.

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.