ThredUp (NASDAQ:TDUP) Trading Down 4.9% - Should You Sell?

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Telsey Advisory Group increased their price objective 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. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set 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 company has a 50 day moving average of $6.67 and a 200-day moving average of $3.79. The stock has a market capitalization of $880.96 million, a P/E ratio of -12.84 and a beta of 1.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.31.

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, topping the consensus estimate of ($0.07) by $0.03. ThredUp had a negative return on equity of 77.03% and a negative net margin of 22.41%. The firm had revenue of $71.29 million for the quarter, compared to analysts' expectations of $67.54 million. Sell-side 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 212,842 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $3.32, for a total value of $706,635.44. Following the completion of the transaction, the director now owns 250,956 shares in the company, valued at approximately $833,173.92. This represents a 45.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 671,783 shares of company stock worth $2,256,470. 27.00% of the stock is owned by insiders.

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently made changes to their positions in TDUP. Voya Investment Management LLC bought a new position in ThredUp in the 1st quarter worth approximately $51,000. Rhumbline Advisers grew its holdings in ThredUp by 3.0% in the 1st quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock worth $241,000 after buying an additional 2,928 shares in the last quarter. Diker Management LLC grew its holdings in ThredUp by 5.6% in the 1st quarter. Diker Management LLC now owns 125,155 shares of the company's stock worth $302,000 after buying an additional 6,655 shares in the last quarter. Acadian Asset Management LLC grew its holdings in ThredUp by 12.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock worth $5,905,000 after buying an additional 279,799 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in ThredUp by 39.2% in the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company's stock worth $223,000 after buying an additional 25,995 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.