Wall Street Zen Downgrades ThredUp (NASDAQ:TDUP) to Hold

ThredUp (NASDAQ:TDUP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Thursday.

A number of other research firms have also issued reports on TDUP. Telsey Advisory Group raised their price target on shares of ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $7.50 target price (up previously from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

ThredUp Price Performance

Shares of TDUP traded down $0.01 during mid-day trading on Thursday, reaching $7.38. The stock had a trading volume of 744,304 shares, compared to its average volume of 1,092,551. The firm has a market cap of $872.07 million, a price-to-earnings ratio of -11.52 and a beta of 1.51. ThredUp has a 12 month low of $0.50 and a 12 month high of $7.60. The business has a fifty day moving average of $4.36 and a 200 day moving average of $2.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $71.29 million during the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. Equities analysts predict that ThredUp will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $2.48, for a total value of $225,853.60. Following the completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at approximately $622,370.88. This represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 811,860 shares of company stock worth $2,592,099 over the last three months. Company insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

Large investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock worth $166,000 after buying an additional 15,307 shares during the last quarter. Renaissance Technologies LLC boosted its position in ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after purchasing an additional 420,012 shares during the period. PEAK6 LLC acquired a new position in ThredUp during the 4th quarter worth $228,000. BloombergSen Inc. boosted its position in ThredUp by 278.9% during the 4th quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after acquiring an additional 470,768 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of ThredUp by 450.6% in the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock worth $280,000 after buying an additional 165,115 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

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.