Needham & Company LLC Reaffirms "Hold" Rating for ThredUp (NASDAQ:TDUP)

Key Points

• Needham & Company LLC has reiterated a "hold" rating for ThredUp (NASDAQ: TDUP), indicating caution in investor sentiment.
• Analyst target prices for ThredUp have significantly increased, with Telsey Advisory Group setting a target of $12.00 and Wells Fargo raising their target to $13.00.
• Insiders have been selling shares, with notable transactions including Director Coretha M. Rushing selling 105,000 shares and CFO Sean Sobers selling 50,000 shares in recent weeks.

ThredUp (NASDAQ:TDUP - Get Free Report)'s stock had its "hold" rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Other analysts also recently issued research reports about the stock. Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Wall Street Zen lowered shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Telsey Advisory Group increased their target price on shares of ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Wells Fargo & Company increased their target price on shares of ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Finally, Northland Securities set a $14.00 target price on shares of ThredUp in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.00.

ThredUp Stock Performance

Shares of TDUP stock traded down $0.47 during midday trading on Thursday, hitting $11.13. 3,055,240 shares of the company were exchanged, compared to its average volume of 1,943,183. The firm has a market capitalization of $1.37 billion, a P/E ratio of -22.71 and a beta of 1.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. The firm's 50 day moving average price is $9.17 and its two-hundred day moving average price is $6.34. ThredUp has a 52 week low of $0.50 and a 52 week high of $12.28.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the sale, the chief financial officer owned 427,390 shares in the company, valued at approximately $4,290,995.60. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction that occurred 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 sale, the director owned 148,197 shares in the company, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,000 shares of company stock worth $2,642,100 in the last quarter. 27.00% of the stock is currently owned by company insiders.

Institutional Trading of ThredUp

Several large investors have recently made changes to their positions in TDUP. Needham Investment Management LLC boosted its position in ThredUp by 2.7% in the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock valued at $8,851,000 after buying an additional 167,500 shares in the last quarter. Marshall Wace LLP boosted its position in ThredUp by 51.8% in the second quarter. Marshall Wace LLP now owns 4,373,596 shares of the company's stock valued at $32,758,000 after buying an additional 1,492,015 shares in the last quarter. Blair William & Co. IL boosted its position in ThredUp by 46.3% in the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after buying an additional 939,449 shares in the last quarter. Acadian Asset Management LLC boosted its position in ThredUp by 12.9% in the first quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock valued at $5,905,000 after buying an additional 279,799 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ThredUp by 12.0% in the second quarter. Geode Capital Management LLC now owns 2,217,721 shares of the company's stock valued at $16,614,000 after buying an additional 238,129 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

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.