ThredUp (NASDAQ:TDUP) Reaches New 52-Week High on Earnings Beat

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) hit a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $4.63 and last traded at $4.45, with a volume of 509922 shares changing hands. The stock had previously closed at $4.42.

The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company restated an "overweight" rating and set a $7.50 target price (up from $6.00) on shares of ThredUp in a research note on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, 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 research note on Tuesday.

Insider Transactions at ThredUp

In other ThredUp news, Director Patricia Nakache sold 35,098 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $2.69, for a total transaction of $94,413.62. Following the completion of the transaction, the director now directly owns 250,956 shares of the company's stock, valued at approximately $675,071.64. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,317,487 shares of company stock worth $3,992,948 over the last three months. 27.00% of the stock is currently owned by insiders.

Institutional Trading of ThredUp

Several large investors have recently made changes to their positions in TDUP. Victory Capital Management Inc. purchased a new stake in ThredUp in the first quarter valued at $25,000. CHICAGO TRUST Co NA acquired a new position in shares of ThredUp in the 1st quarter valued at about $30,000. ProShare Advisors LLC boosted its stake in shares of ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after buying an additional 7,287 shares during the last quarter. Virtu Financial LLC acquired a new stake in ThredUp during the fourth quarter worth about $33,000. Finally, Cubist Systematic Strategies LLC purchased a new position in ThredUp during the fourth quarter valued at approximately $48,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

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 has a fifty day simple moving average of $3.33 and a 200-day simple moving average of $2.26. The company has a market capitalization of $723.89 million, a price-to-earnings ratio of -9.73 and a beta of 1.51.

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.