ThredUp Inc. (NASDAQ:TDUP) Given Average Recommendation of "Buy" by Brokerages

Key Points

• ThredUp Inc. has received a consensus rating of "Buy" from five research firms, with an average 12-month price target of $13.00.
• Recent analyst upgrades include a "strong-buy" rating from Northland Capital and raised price targets from various firms, such as Wells Fargo increasing theirs from $10.00 to $13.00.
• Insider trading activity shows CFO Sean Sobers sold 100,000 shares at an average price of $10.04, reducing his ownership stake by 17.32% and indicating a potential shift in sentiment.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) has earned an average recommendation of "Buy" from the five brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.00.

A number of brokerages have weighed in on TDUP. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Telsey Advisory Group upped their price target 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 upped their price target 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. Wall Street Zen upgraded 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.

Insider Transactions at ThredUp

In related news, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer owned 427,390 shares of the company's stock, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.00% of the company's stock.

Institutional Trading of ThredUp

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new stake in shares of ThredUp in the 1st quarter valued at approximately $25,000. CHICAGO TRUST Co NA purchased a new stake in shares of ThredUp in the 1st quarter valued at approximately $30,000. ProShare Advisors LLC grew its stake in shares of ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock valued at $31,000 after buying an additional 7,287 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ThredUp in the 2nd quarter valued at approximately $32,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

ThredUp Stock Performance

Shares of ThredUp stock remained flat at $10.51 during trading hours on Friday. 1,026,399 shares of the company's stock were exchanged, compared to its average volume of 2,466,394. The company's fifty day simple moving average is $8.20 and its 200 day simple moving average is $5.44. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -21.45 and a beta of 1.73. ThredUp has a 1-year low of $0.50 and a 1-year high of $11.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27.

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.