ThredUp (NASDAQ:TDUP) Sets New 1-Year High After Strong Earnings

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. 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. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. The firm had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TDUP shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $7.50 price objective (up from $6.00) on shares of ThredUp in a research report on Tuesday. Finally, Telsey Advisory Group boosted their target price on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Tuesday.

Insider Transactions at ThredUp

In other news, Director Patricia Nakache sold 212,842 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $3.32, for a total value of $706,635.44. Following the transaction, the director now owns 250,956 shares of the company's stock, valued at $833,173.92. This represents a 45.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,337,172 shares of company stock valued at $4,042,161 over the last three months. Company insiders own 27.00% of the company's stock.

Hedge Funds Weigh In On ThredUp

A number of large investors have recently added to or reduced their stakes in the business. Needham Investment Management LLC grew its holdings in shares of ThredUp by 2.7% in the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock worth $8,851,000 after purchasing an additional 167,500 shares during the last quarter. FIL Ltd boosted its holdings in ThredUp by 0.8% in the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after acquiring an additional 27,000 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 valued at $2,663,000 after buying an additional 26,326 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of ThredUp by 134.5% during 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 last quarter. Finally, BloombergSen Inc. lifted its holdings in ThredUp by 98.5% in the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after acquiring an additional 630,101 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

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 company has a market capitalization of $751.78 million, a P/E ratio of -10.11 and a beta of 1.51. The firm's 50-day moving average is $3.17 and its 200-day moving average is $2.19.

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.