ThredUp Inc. (NASDAQ:TDUP - Get Free Report) saw strong 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 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.
Several other brokerages have also recently commented on TDUP. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their target price on ThredUp from $3.00 to $6.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th.
View Our Latest Stock Report on TDUP
Insider Transactions at ThredUp
In other ThredUp news, Director Patricia Nakache sold 315,102 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $2.87, for a total value of $904,342.74. Following the sale, the director now directly owns 250,956 shares in the company, valued at $720,243.72. This trade represents a 55.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,337,172 shares of company stock valued at $4,042,161. Insiders own 27.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in TDUP. Skandinaviska Enskilda Banken AB publ boosted its holdings in ThredUp by 15.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock valued at $58,000 after purchasing an additional 3,285 shares in the last quarter. BloombergSen Inc. boosted its holdings in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after buying an additional 630,101 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of ThredUp in the 1st quarter valued at $25,000. Bank of New York Mellon Corp grew its position in shares of ThredUp by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 188,338 shares of the company's stock valued at $454,000 after buying an additional 9,254 shares during the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in ThredUp during the 1st quarter worth $156,000. Hedge funds and other institutional investors own 89.08% of the company's stock.
ThredUp Trading Down 4.2 %
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 capitalization of $730.17 million, a PE ratio of -9.80 and a beta of 1.51. The business's 50-day moving average is $3.09 and its two-hundred day moving average is $2.16.
ThredUp (NASDAQ:TDUP - Get Free Report) last announced its earnings results 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. The firm 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%. On average, analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.
About ThredUp
(
Get Free Report)
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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