ThredUp (NASDAQ:TDUP) Reaches New 12-Month High - What's Next?

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.19 and last traded at $6.92, with a volume of 5666901 shares changing hands. The stock had previously closed at $6.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TDUP shares. Telsey Advisory Group upped their target price on 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 restated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $7.50 price target (up previously from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

ThredUp Price Performance

The business has a fifty day moving average of $3.76 and a 200-day moving average of $2.48. The firm has a market cap of $845.47 million, a PE ratio of -11.17 and a beta of 1.51. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $67.54 million. As a group, research analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other ThredUp news, Director Patricia Nakache sold 212,842 shares of ThredUp stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $3.32, for a total value of $706,635.44. Following the transaction, the director now directly owns 250,956 shares of the company's stock, valued at $833,173.92. The trade was a 45.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,187,236 shares of company stock worth $3,659,784 in the last quarter. 27.00% of the stock is owned by insiders.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently made changes to their positions in the business. Tocqueville Asset Management L.P. purchased a new stake in ThredUp in the first quarter worth $2,338,000. Blair William & Co. IL lifted its holdings in shares of ThredUp by 46.3% during the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after purchasing an additional 939,449 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after purchasing an additional 872,357 shares in the last quarter. BloombergSen Inc. lifted its holdings in shares of ThredUp by 98.5% during the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after purchasing an additional 630,101 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after acquiring an additional 420,012 shares during the period. 89.08% of the stock is owned by hedge funds and other 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.