ThredUp (NASDAQ:TDUP) Hits New 1-Year High - Here's Why

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Telsey Advisory Group increased their price target on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $7.50 price target (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

ThredUp Trading Up 2.5%

The stock has a market capitalization of $904.59 million, a P/E ratio of -11.95 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The business's 50 day simple moving average is $4.91 and its 200-day simple moving average is $3.02.

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

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 212,842 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $3.32, for a total transaction of $706,635.44. Following the sale, the director now directly owns 250,956 shares in the company, valued at $833,173.92. This trade represents a 45.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 811,860 shares of company stock worth $2,592,099. Company insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. acquired a new stake in ThredUp in the 1st quarter valued at $2,338,000. Blair William & Co. IL increased its stake in ThredUp by 46.3% in the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after buying an additional 939,449 shares during the last quarter. Marshall Wace LLP grew its position in shares of ThredUp by 134.5% in the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after acquiring an additional 872,357 shares during the period. BloombergSen Inc. grew its position in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after acquiring an additional 630,101 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of ThredUp by 75.2% in the 4th 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 currently owned by institutional investors and hedge funds.

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.