Analysts Set ThredUp Inc. (NASDAQ:TDUP) Price Target at $13.00

Key Points

• ThredUp Inc. has received an average rating of "Buy" from five brokerage firms, with a 12-month target price of $13.00.
• Insiders, including Director Coretha M. Rushing and CFO Sean Sobers, have sold significant shares of ThredUp, indicating a decrease in their ownership by 41.47% and 10.47% respectively.
• Institutional investors own 89.08% of ThredUp's stock, suggesting strong support from financial institutions in the company's growth.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) has been given a consensus recommendation of "Buy" by the five research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $13.00.

A number of equities analysts have recently commented on TDUP shares. Northland Securities set a $14.00 price objective on ThredUp in a research note on Tuesday, August 5th. Telsey Advisory Group lifted their price objective on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Wells Fargo & Company boosted their price target on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen lowered ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

ThredUp Stock Performance

Shares of ThredUp stock traded up $0.66 during trading on Wednesday, reaching $11.07. The company's stock had a trading volume of 284,242 shares, compared to its average volume of 1,925,234. 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 business's fifty day moving average price is $9.48 and its 200-day moving average price is $6.63. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -22.48 and a beta of 1.75. ThredUp has a one year low of $0.50 and a one year high of $12.28.

Insider Activity

In related news, Director Coretha M. Rushing sold 105,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 148,197 shares in the company, valued at $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 $4,792,995.60. This represents a 17.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock worth $2,642,100 over the last 90 days. Corporate insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

A number of institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its holdings in ThredUp by 5.0% during the second quarter. Squarepoint Ops LLC now owns 167,861 shares of the company's stock valued at $1,257,000 after purchasing an additional 8,025 shares in the last quarter. State of Wyoming acquired a new stake in ThredUp during the second quarter valued at approximately $453,000. Tower Research Capital LLC TRC boosted its holdings in ThredUp by 110.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company's stock valued at $82,000 after purchasing an additional 5,744 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in ThredUp during the second quarter valued at approximately $475,000. Finally, Engineers Gate Manager LP acquired a new stake in ThredUp during the second quarter valued at approximately $1,892,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.