ThredUp (NASDAQ:TDUP) Hits New 52-Week High - What's Next?

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.61 and last traded at $7.46, with a volume of 723195 shares traded. The stock had previously closed at $7.24.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TDUP shares. Wall Street Zen downgraded ThredUp from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $7.50 price target (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Telsey Advisory Group upped 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th.

ThredUp Stock Up 2.8%

The firm's 50 day simple moving average is $5.22 and its 200 day simple moving average is $3.14. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $912.87 million, a price-to-earnings ratio of -12.06 and a beta of 1.75.

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

Insider Buying and Selling

In related news, Director Patricia Nakache sold 49,007 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $2.24, for a total value of $109,775.68. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at approximately $562,141.44. This represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 811,860 shares of company stock worth $2,592,099. Corporate insiders own 27.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in ThredUp in the 1st quarter valued at $25,000. CHICAGO TRUST Co NA bought a new position in shares of ThredUp during the 1st quarter worth about $30,000. ProShare Advisors LLC lifted its holdings in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after acquiring an additional 7,287 shares during the period. Virtu Financial LLC bought a new position in ThredUp during the 4th quarter valued at about $33,000. Finally, Cubist Systematic Strategies LLC bought a new position in ThredUp during the 4th quarter valued at about $48,000. Institutional investors own 89.08% of the company's stock.

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.