ThredUp (NASDAQ:TDUP) Shares Gap Down - Here's Why

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $7.65, but opened at $7.48. ThredUp shares last traded at $7.65, with a volume of 338,806 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group lifted their target price on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company reissued 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. Finally, Wall Street Zen raised ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday.

ThredUp Price Performance

The company's 50-day moving average price is $5.22 and its two-hundred day moving average price is $3.15. 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 $912.87 million, a P/E ratio of -12.06 and a beta of 1.75.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $71.29 million for 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%. As a group, sell-side analysts expect that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $225,853.60. Following the transaction, the director now owns 250,956 shares in the company, valued at $622,370.88. This represents a 26.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 811,860 shares of company stock worth $2,592,099 in the last ninety days. 27.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in ThredUp during the 1st quarter worth $25,000. CHICAGO TRUST Co NA acquired a new stake in shares of ThredUp during the 1st quarter worth $30,000. ProShare Advisors LLC increased its position 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 purchasing an additional 7,287 shares during the period. American Century Companies Inc. bought a new position in shares of ThredUp in the first quarter worth $57,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in ThredUp by 15.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock valued at $58,000 after purchasing an additional 3,285 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.