ThredUp (NASDAQ:TDUP) Stock Price Down 5% - Time to Sell?

Key Points

• ThredUp's stock price fell by 5% during mid-day trading, closely trading around $10.27, marking a significant decline in trading volume compared to its average sessions.
• Wall Street analysts have mixed opinions on ThredUp, with one lowering its rating to "hold" while others set a price target up to $14.00, but the consensus remains a "Buy" with a target price of $13.00.
• Insider selling has occurred recently, with the CFO and a director disposing of a combined total of 155,000 shares, indicating a notable decrease in their ownership stakes.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) traded down 5% during mid-day trading on Tuesday . The company traded as low as $10.57 and last traded at $10.27. 63,480 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,922,343 shares. The stock had previously closed at $10.80.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TDUP shares. Wall Street Zen lowered shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Northland Securities set a $14.00 price target on shares of ThredUp in a report on Tuesday, August 5th. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Telsey Advisory Group lifted their price objective on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $13.00.

ThredUp Price Performance

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -21.24 and a beta of 1.75. The stock's 50-day simple moving average is $9.54 and its two-hundred day simple moving average is $6.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27.

Insider Transactions at ThredUp

In related news, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer owned 427,390 shares of the company's stock, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of the sale, the director directly owned 148,197 shares of the company's stock, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,000 shares of company stock valued at $2,642,100 in the last three months. 27.00% of the stock is currently owned by insiders.

Institutional Trading of ThredUp

Several hedge funds have recently made changes to their positions in TDUP. Cerity Partners LLC increased its stake in ThredUp by 6.7% in the second quarter. Cerity Partners LLC now owns 19,011 shares of the company's stock valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of ThredUp by 5.0% during the 2nd quarter. SG Americas Securities LLC now owns 27,167 shares of the company's stock worth $203,000 after buying an additional 1,296 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in ThredUp by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company's stock valued at $234,000 after buying an additional 1,601 shares during the period. ProShare Advisors LLC grew its holdings in ThredUp by 9.6% in the 2nd quarter. ProShare Advisors LLC now owns 18,658 shares of the company's stock valued at $140,000 after buying an additional 1,631 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock worth $115,000 after purchasing an additional 2,034 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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