Telsey Advisory Group Issues Positive Forecast for ThredUp (NASDAQ:TDUP) Stock Price

ThredUp (NASDAQ:TDUP - Free Report) had its price target hoisted by Telsey Advisory Group from $3.00 to $6.00 in a report released on Monday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.

Separately, Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Price Performance

Shares of NASDAQ TDUP traded down $0.24 during mid-day trading on Monday, hitting $4.25. 1,736,753 shares of the stock were exchanged, compared to its average volume of 856,127. ThredUp has a twelve month low of $0.50 and a twelve month high of $4.63. 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 stock's fifty day simple moving average is $2.90 and its two-hundred day simple moving average is $2.03. The company has a market cap of $493.83 million, a P/E ratio of -6.64 and a beta of 1.64.

Insider Buying and Selling at ThredUp

In other ThredUp news, Director Patricia Nakache sold 479,861 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.30, for a total value of $1,103,680.30. Following the transaction, the director now directly owns 250,956 shares of the company's stock, valued at approximately $577,198.80. This trade represents a 65.66 % decrease in their ownership of the stock. 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 have sold 2,374,820 shares of company stock valued at $6,548,205. 27.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in ThredUp by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 188,338 shares of the company's stock worth $454,000 after purchasing an additional 9,254 shares during the period. Simplicity Wealth LLC acquired a new stake in ThredUp in the first quarter worth $156,000. CHICAGO TRUST Co NA acquired a new stake in ThredUp in the first quarter worth $30,000. Two Sigma Investments LP raised its holdings in ThredUp by 150.1% in the fourth quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock worth $159,000 after purchasing an additional 68,790 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in ThredUp by 572.8% in the fourth quarter. Two Sigma Advisers LP now owns 109,000 shares of the company's stock worth $152,000 after purchasing an additional 92,800 shares during the period. 89.08% of the stock is owned by 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.