ThredUp (NASDAQ:TDUP) Sees Strong Trading Volume After Analyst Upgrade

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) shares saw an uptick in trading volume on Wednesday after Telsey Advisory Group raised their price target on the stock from $6.00 to $7.00. Telsey Advisory Group currently has an outperform rating on the stock. 1,906,899 shares were traded during mid-day trading, an increase of 98% from the previous session's volume of 961,762 shares.The stock last traded at $6.20 and had previously closed at $6.56.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of ThredUp from $3.00 to $6.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.

Insider Buying and Selling at ThredUp

In related news, Director Patricia Nakache sold 35,098 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $2.69, for a total value of $94,413.62. Following the completion of the transaction, the director now directly owns 250,956 shares in the company, valued at $675,071.64. The trade was a 12.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 1,309,111 shares of company stock worth $3,972,008. Company insiders own 27.00% of the company's stock.

Hedge Funds Weigh In On ThredUp

Several large investors have recently made changes to their positions in the company. Needham Investment Management LLC lifted its stake in shares of ThredUp by 2.7% in the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock valued at $8,851,000 after purchasing an additional 167,500 shares during the period. FIL Ltd grew its holdings in shares of ThredUp by 0.8% during the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after buying an additional 27,000 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of ThredUp by 46.3% during the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock worth $7,157,000 after buying an additional 939,449 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of ThredUp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock worth $2,663,000 after buying an additional 26,326 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of ThredUp by 134.5% in the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after purchasing an additional 872,357 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Price Performance

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 stock's fifty day moving average is $3.33 and its 200-day moving average is $2.28. The stock has a market cap of $716.92 million, a PE ratio of -9.64 and a beta of 1.51.

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

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.