ThredUp Inc. (NASDAQ:TDUP) Receives Average Rating of "Buy" from Brokerages

Key Points

• ThredUp Inc. has received an average consensus recommendation of "Buy" from five research firms, with one rating as a strong buy and one as a hold.
• The average 1-year price target among brokerages for ThredUp stock is $13.00.
• Recent insider trading activity includes CFO Sean Sobers selling 50,000 shares and Director Coretha M. Rushing selling 105,000 shares, indicating a decrease in their ownership stakes.

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

Several research firms have recently weighed in on TDUP. Wall Street Zen downgraded shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. Wells Fargo & Company raised their price objective on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Finally, Telsey Advisory Group raised their price objective on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th.

ThredUp Stock Performance

Shares of TDUP traded down $0.52 during trading hours on Wednesday, hitting $10.40. The company's stock had a trading volume of 1,237,628 shares, compared to its average volume of 2,130,977. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -21.22 and a beta of 1.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $9.48 and a two-hundred day simple moving average of $6.57. ThredUp has a 52-week low of $0.50 and a 52-week high of $12.28.

Insider Activity at ThredUp

In other ThredUp news, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction that occurred on 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 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Sean Sobers sold 50,000 shares of ThredUp 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 of the company's stock, valued at approximately $4,290,995.60. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in ThredUp in the 1st quarter worth $25,000. CHICAGO TRUST Co NA purchased a new position in ThredUp in the 1st quarter worth $30,000. ProShare Advisors LLC raised its position in ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after purchasing an additional 7,287 shares during the period. Raymond James Financial Inc. purchased a new position in ThredUp in the 2nd quarter worth $32,000. Finally, Cubist Systematic Strategies LLC purchased a new position in ThredUp in the 4th quarter worth $48,000. 89.08% of the stock is currently owned by institutional investors.

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.