ThredUp (NASDAQ:TDUP) Stock Rating Lowered by Wall Street Zen

Key Points

• ThredUp has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting concerns about its current stock performance.
• Institutional investors own approximately 89.08% of ThredUp's stock, indicating strong institutional confidence in the company despite recent downgrades.
• The average price target for ThredUp shares is set at $13.00, according to consensus ratings from multiple analysts, with one analyst giving it a "strong buy" recommendation.

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

Several other equities research analysts have also commented on the stock. Wells Fargo & Company upped their price target 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. Northland Securities set a $14.00 target price on ThredUp in a research report on Tuesday, August 5th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Finally, Telsey Advisory Group increased their price target on ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $13.00.

ThredUp Price Performance

Shares of TDUP traded down $0.38 during trading hours on Friday, hitting $10.82. The company had a trading volume of 1,336,436 shares, compared to its average volume of 2,584,009. The firm has a fifty day moving average price of $8.86 and a 200-day moving average price of $6.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. ThredUp has a 52-week low of $0.50 and a 52-week high of $12.28.

Insider Activity at ThredUp

In other 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 transaction, the director directly owned 148,197 shares of the company's stock, valued at $1,603,491.54. The trade was a 41.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the transaction, the chief financial officer directly 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. In the last 90 days, insiders sold 255,000 shares of company stock worth $2,642,100. Insiders own 27.00% of the company's stock.

Institutional Trading of ThredUp

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock worth $280,000 after purchasing an additional 165,115 shares during the period. Wells Fargo & Company MN raised its position in shares of ThredUp by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock worth $80,000 after acquiring an additional 13,941 shares in the last quarter. Barclays PLC raised its position in shares of ThredUp by 14.7% during the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock worth $166,000 after acquiring an additional 15,307 shares in the last quarter. Northern Trust Corp grew its stake in ThredUp by 13.0% during the 4th quarter. Northern Trust Corp now owns 733,725 shares of the company's stock worth $1,020,000 after buying an additional 84,353 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company's stock worth $108,000 after buying an additional 23,156 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.