ThredUp (NASDAQ:TDUP - Free Report) had its target price hoisted by Telsey Advisory Group from $3.00 to $6.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.
Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.
View Our Latest Stock Analysis on TDUP
ThredUp Price Performance
Shares of TDUP traded up $0.17 during mid-day trading on Monday, reaching $4.42. 2,053,146 shares of the company's stock were exchanged, compared to its average volume of 863,529. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp has a 52-week low of $0.50 and a 52-week high of $4.58. The company has a market cap of $513.58 million, a price-to-earnings ratio of -6.91 and a beta of 1.64. The company has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $2.08.
Insider Activity
In other news, Director Patricia Nakache sold 19,685 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $2.50, for a total transaction of $49,212.50. Following the completion of the sale, the director now directly owns 250,956 shares in the company, valued at $627,390. This represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 2,237,744 shares of company stock valued at $6,243,897 over the last quarter. Company insiders own 27.00% of the company's stock.
Institutional Investors Weigh In On ThredUp
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp during the 1st quarter worth about $25,000. Bank of New York Mellon Corp grew its stake in ThredUp by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 188,338 shares of the company's stock worth $454,000 after buying an additional 9,254 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of ThredUp in the first quarter worth $156,000. CHICAGO TRUST Co NA purchased a new position in shares of ThredUp in the 1st quarter valued at $30,000. Finally, Two Sigma Investments LP lifted its holdings in shares of ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after acquiring an additional 68,790 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.
ThredUp Company Profile
(
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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.
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