ThredUp (NASDAQ:TDUP) Sets New 12-Month High - Time to Buy?

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.61 and last traded at $7.45, with a volume of 294004 shares. The stock had previously closed at $7.38.

Wall Street Analyst Weigh In

Several research analysts recently commented on TDUP shares. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th. Telsey Advisory Group lifted their price objective on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company restated 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. Finally, Wall Street Zen downgraded ThredUp from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd.

ThredUp Stock Down 0.7%

The firm's 50-day simple moving average is $4.72 and its 200-day simple moving average is $2.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market capitalization of $846.65 million, a price-to-earnings ratio of -11.19 and a beta of 1.51.

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

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 49,007 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $2.24, for a total value of $109,775.68. Following the completion of the transaction, the director now directly owns 250,956 shares of the company's stock, valued at approximately $562,141.44. This represents a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 811,860 shares of company stock worth $2,592,099 over the last quarter. Company insiders own 27.00% of the company's stock.

Institutional Trading of ThredUp

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in shares of ThredUp in the 1st quarter valued at $25,000. CHICAGO TRUST Co NA bought a new position in ThredUp during the 1st quarter valued at about $30,000. ProShare Advisors LLC lifted its holdings in ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock valued at $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC acquired a new position in ThredUp in the fourth quarter valued at about $33,000. Finally, Cubist Systematic Strategies LLC bought a new stake in ThredUp during the fourth quarter worth about $48,000. 89.08% of the stock is currently owned by 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.