ThredUp Inc. (NASDAQ:TDUP) Receives Average Recommendation of "Buy" from Analysts

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.

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.00.

Several research firms have recently commented on TDUP. Wells Fargo & Company lifted their price objective on shares of ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Telsey Advisory Group lifted their price objective on shares of ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Finally, Northland Securities set a $14.00 price objective on shares of ThredUp in a research note on Tuesday, August 5th.

Insider Activity

In other ThredUp news, 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 value of $1,004,000.00. Following the completion of the transaction, the chief financial officer owned 477,390 shares of the company's stock, valued at approximately $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP grew its stake in ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after acquiring an additional 68,790 shares in the last quarter. Barclays PLC grew its stake in shares of ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock valued at $166,000 after buying an additional 15,307 shares during the period. BloombergSen Inc. grew its stake in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after buying an additional 630,101 shares during the period. Renaissance Technologies LLC grew its stake in shares of ThredUp by 75.2% in the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after buying an additional 420,012 shares during the period. Finally, PEAK6 LLC purchased a new stake in shares of ThredUp in the 4th quarter valued at approximately $228,000. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Stock Up 0.6%

TDUP traded up $0.06 during trading on Friday, hitting $10.65. The stock had a trading volume of 1,331,046 shares, compared to its average volume of 2,337,969. The company has a market capitalization of $1.31 billion, a PE ratio of -21.73 and a beta of 1.73. ThredUp has a twelve month low of $0.50 and a twelve month 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. The stock has a 50 day simple moving average of $8.38 and a two-hundred day simple moving average of $5.57.

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.