ThredUp (NASDAQ:TDUP) Sets New 12-Month High - Here's What Happened

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TDUP. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th. 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 report on Tuesday, May 6th. Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $7.50 target price (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

ThredUp Price Performance

The stock has a market capitalization of $937.11 million, a price-to-earnings ratio of -12.39 and a beta of 1.75. The company's 50-day simple moving average is $5.80 and its 200-day simple moving average is $3.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. The business had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. Research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other news, Director Patricia Nakache sold 271,762 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $3.43, for a total transaction of $932,143.66. Following the sale, the director now directly owns 250,956 shares in the company, valued at approximately $860,779.08. The trade was a 51.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 762,853 shares of company stock worth $2,482,323 over the last 90 days. Insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new stake in shares of ThredUp during the 1st quarter valued at about $25,000. CHICAGO TRUST Co NA acquired a new position in ThredUp in the first quarter valued at approximately $30,000. ProShare Advisors LLC boosted its holdings in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after buying an additional 7,287 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of ThredUp during the 1st quarter worth approximately $57,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of ThredUp by 15.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock valued at $58,000 after acquiring an additional 3,285 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

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.

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