ThredUp (NASDAQ:TDUP) Sets New 12-Month High - Here's Why

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $7.92 and last traded at $7.75, with a volume of 263489 shares changing hands. The stock had previously closed at $7.66.

Analysts Set New Price Targets

TDUP has been the topic of a number of research analyst reports. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Telsey Advisory Group upped their price target on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $7.50 price target (up from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th.

ThredUp Stock Performance

The business's 50-day simple moving average is $5.71 and its two-hundred day simple moving average is $3.35. The firm has a market cap of $863.20 million, a price-to-earnings ratio of -11.41 and a beta of 1.75. 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 (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $71.29 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 91,070 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $225,853.60. Following the completion of the transaction, the director now owns 250,956 shares in the company, valued at $622,370.88. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 811,860 shares of company stock worth $2,592,099. Company insiders own 27.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in ThredUp by 3.0% in the 1st quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock valued at $241,000 after acquiring an additional 2,928 shares during the last quarter. Diker Management LLC boosted its position in shares of ThredUp by 5.6% during the 1st quarter. Diker Management LLC now owns 125,155 shares of the company's stock worth $302,000 after purchasing an additional 6,655 shares during the period. Acadian Asset Management LLC boosted its position in shares of ThredUp by 12.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock worth $5,905,000 after purchasing an additional 279,799 shares during the period. Jane Street Group LLC boosted its position in shares of ThredUp by 39.2% during the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company's stock worth $223,000 after purchasing an additional 25,995 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of ThredUp during the 1st quarter worth approximately $332,000. Institutional investors and hedge funds own 89.08% of the company's stock.

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.