ThredUp (NASDAQ:TDUP) Hits New 1-Year High - Should You Buy?

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $8.06 and last traded at $7.93, with a volume of 1317719 shares trading hands. The stock had previously closed at $7.72.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $7.50 target price (up from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group increased their price objective on shares of ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th.

ThredUp Price Performance

The firm has a 50-day moving average of $6.21 and a 200-day moving average of $3.58. The stock has a market cap of $1.03 billion, a PE ratio of -14.98 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92.

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 22.41% and a negative return on equity of 77.03%. The business had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. Research analysts predict that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling at ThredUp

In other ThredUp news, Director Patricia Nakache sold 187,179 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $3.30, for a total transaction of $617,690.70. Following the completion of the transaction, the director now owns 250,956 shares of the company's stock, valued at $828,154.80. This represents a 42.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 671,783 shares of company stock worth $2,256,470. Insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently made changes to their positions in TDUP. Two Sigma Investments LP grew its holdings in ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after buying an additional 68,790 shares in the last quarter. Barclays PLC boosted its position in shares of ThredUp by 14.7% during the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock valued at $166,000 after acquiring an additional 15,307 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after acquiring an additional 420,012 shares during the last quarter. PEAK6 LLC purchased a new position in shares of ThredUp in the fourth quarter valued at $228,000. Finally, BloombergSen Inc. increased its position in ThredUp by 278.9% in the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after purchasing an additional 470,768 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

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.