ThredUp (NASDAQ:TDUP) Hits New 12-Month High - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company restated an "overweight" rating and set a $7.50 price objective (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Telsey Advisory Group raised their price target on shares of ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wall Street Zen raised ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

ThredUp Stock Performance

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 stock has a market cap of $879.76 million, a P/E ratio of -11.63 and a beta of 1.75. The firm's 50-day moving average is $5.53 and its two-hundred day moving average is $3.27.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $71.29 million during the quarter, compared to analysts' expectations of $67.54 million. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. As a group, research analysts expect that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Transactions at ThredUp

In other news, Director Patricia Nakache sold 49,007 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was 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 directly owns 250,956 shares of the company's stock, valued at approximately $562,141.44. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 811,860 shares of company stock worth $2,592,099. 27.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

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