ThredUp (NASDAQ:TDUP) Stock Price Down 4.9% - Here's What Happened

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $8.01 and last traded at $7.99. Approximately 1,316,557 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 1,708,346 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

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

ThredUp Stock Down 3.9%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $954.28 million, a PE ratio of -13.91 and a beta of 1.75. The firm's 50-day simple moving average is $6.31 and its 200 day simple moving average is $3.65.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping 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 firm had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. As a group, equities research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In other news, Director Patricia Nakache sold 212,842 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 250,956 shares in the company, valued at $833,173.92. This represents a 45.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 671,783 shares of company stock valued at $2,256,470. Insiders own 27.00% of the company's stock.

Institutional Trading of ThredUp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Tocqueville Asset Management L.P. purchased a new stake in shares of ThredUp during the first quarter worth about $2,338,000. Blair William & Co. IL raised its holdings in ThredUp by 46.3% in the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after acquiring an additional 939,449 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of ThredUp by 134.5% during the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock worth $2,114,000 after purchasing an additional 872,357 shares during the period. BloombergSen Inc. boosted its holdings in shares of ThredUp by 98.5% during the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock worth $3,060,000 after purchasing an additional 630,101 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of ThredUp by 75.2% during the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after purchasing an additional 420,012 shares during the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.