ThredUp (NASDAQ:TDUP) Director Buys 10,000 Shares of Company Stock

Key Points

• Director Ian Friedman bought 10,000 ThredUp shares at an average price of $1.34, spending $13,400 and increasing his holdings by 2.17% to 471,661 shares.
• ThredUp reported quarterly EPS of -$0.04, beating analysts’ -$0.05 estimate; revenue of $88.23 million also slightly exceeded forecasts.
• Analyst opinions were mixed, with the stock holding a “Moderate Buy” consensus and a $4.64 average target price. Shares traded at $1.36 in the report, after falling substantially from their 12-month high of $8.76.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) Director Ian Friedman acquired 10,000 shares of ThredUp stock in a transaction dated Friday, November 6th. The stock was bought at an average price of $1.34 per share, for a total transaction of $13,400.00. Following the completion of the purchase, the director owned 471,661 shares of the company's stock, valued at approximately $632,025.74. This represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

ThredUp Stock Up 6.2%

TDUP traded up $0.08 on Monday, hitting $1.36. 1,750,185 shares of the company were exchanged, compared to its average volume of 2,284,224. ThredUp Inc. has a twelve month low of $1.24 and a twelve month high of $8.76. The company has a market cap of $179.27 million, a price-to-earnings ratio of -7.58 and a beta of 2.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $4.07.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. ThredUp had a negative return on equity of 39.12% and a negative net margin of 6.89%. The company had revenue of $88.23 million for the quarter, compared to analyst estimates of $88.05 million. On average, equities analysts predict that ThredUp Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on TDUP. Wells Fargo & Company lowered their target price on shares of ThredUp from $8.00 to $3.00 and set an "overweight" rating for the company in a research note on Thursday. Weiss Ratings raised ThredUp from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, November 3rd. William Blair cut ThredUp from an "outperform" rating to a "market perform" rating in a research report on Thursday. Wall Street Zen downgraded ThredUp from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Telsey Advisory Group decreased their target price on ThredUp from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4.64.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Readystate Asset Management LP grew its holdings in shares of ThredUp by 197.4% during the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company's stock worth $10,335,000 after purchasing an additional 1,001,482 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ThredUp by 19.0% in the 1st 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 last quarter. CI Investments Inc. purchased a new stake in shares of ThredUp in the 1st quarter valued at about $5,937,000. Zweig DiMenna Associates LLC boosted its position in shares of ThredUp by 170.1% in the 1st quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company's stock valued at $4,771,000 after purchasing an additional 916,000 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of ThredUp by 5,274.0% in the 3rd quarter. ProShare Advisors LLC now owns 740,542 shares of the company's stock valued at $1,570,000 after purchasing an additional 726,762 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women's and children's clothing and related products, while individuals can send in unwanted items for resale through the company's “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children's clothing before expanding into women's apparel and broader fashion categories.

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