ThredUp (NASDAQ:TDUP) Sets New 12-Month High Following Analyst Upgrade

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) shares hit a new 52-week high on Monday after Telsey Advisory Group raised their price target on the stock from $3.00 to $6.00. Telsey Advisory Group currently has an outperform rating on the stock. ThredUp traded as high as $4.47 and last traded at $4.34, with a volume of 986402 shares trading hands. The stock had previously closed at $4.20.

Separately, Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 34,798 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $2.19, for a total value of $76,207.62. Following the transaction, the director now owns 250,956 shares in the company, valued at $549,593.64. The trade was a 12.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 2,409,618 shares of company stock worth $6,624,413. 27.00% of the stock is currently owned by company insiders.

Institutional Trading of ThredUp

Hedge funds and other institutional investors have recently modified their holdings of the business. PEAK6 LLC acquired a new stake in ThredUp during the 4th quarter valued at approximately $228,000. BloombergSen Inc. increased its stake in shares of ThredUp by 278.9% in the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after buying an additional 470,768 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ThredUp in the fourth quarter worth $348,000. Arrowstreet Capital Limited Partnership acquired a new stake in ThredUp in the fourth quarter valued at $521,000. Finally, Archon Capital Management LLC bought a new position in ThredUp during the 4th quarter valued at $461,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Stock Performance

The company's fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $1.97. The company has a market capitalization of $499.64 million, a price-to-earnings ratio of -6.70 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

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.

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