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

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.

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) have received an average recommendation of "Buy" from the five analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.00.

A number of research firms recently issued reports on TDUP. Wells Fargo & Company upped their price objective 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. Northland Securities set a $14.00 price objective on shares of ThredUp in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st.

Insider Activity

In other news, CFO Sean Sobers sold 50,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer owned 427,390 shares in the company, valued at $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This represents a 41.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by corporate insiders.

Institutional Trading of ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of ThredUp in the second quarter valued at about $32,000. Ameritas Investment Partners Inc. increased its holdings in ThredUp by 32.7% during the second quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company's stock worth $70,000 after buying an additional 2,287 shares during the last quarter. Bensler LLC purchased a new stake in ThredUp during the second quarter worth about $75,000. Victory Capital Management Inc. purchased a new stake in ThredUp during the first quarter worth about $25,000. Finally, Tower Research Capital LLC TRC increased 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 worth $82,000 after buying an additional 5,744 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

ThredUp Price Performance

TDUP stock traded down $0.52 during trading on Wednesday, reaching $10.40. 1,237,628 shares of the company were exchanged, compared to its average volume of 2,130,977. The company has a 50-day moving average of $9.48 and a two-hundred day moving average of $6.57. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -21.22 and a beta of 1.75. ThredUp has a twelve month low of $0.50 and a twelve month high of $12.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96.

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.