ThredUp (NASDAQ:TDUP) Shares Down 5.6% - What's Next?

Key Points

• ThredUp's stock price decreased by 5.6% to around $9.94 amid a significant drop in trading volume, which was down 74% compared to its average.
• Analysts' price targets for ThredUp have been raised, with Telsey Advisory Group setting a target of $12.00 and Wells Fargo raising theirs to $13.00, while the stock maintains an average consensus rating of "Buy".
• Insider trading activity included significant stock sales by Director Coretha M. Rushing and CFO Sean Sobers, indicating a 41.47% and 10.47% decrease in their respective shareholdings.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s share price was down 5.6% during mid-day trading on Monday . The company traded as low as $9.86 and last traded at $9.94. Approximately 508,944 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,942,084 shares. The stock had previously closed at $10.53.

Analyst Ratings Changes

Several equities analysts have commented on TDUP shares. Northland Securities set a $14.00 target price on ThredUp in a research report on Tuesday, August 5th. Northland Capmk raised ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. Telsey Advisory Group boosted their price objective on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company boosted their target price on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $13.00.

ThredUp Trading Down 0.3%

The firm has a market capitalization of $1.23 billion, a PE ratio of -20.41 and a beta of 1.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $9.89 and a 200 day simple moving average of $6.97.

Insider Activity at ThredUp

In related news, Director Coretha M. Rushing sold 105,000 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares in the company, valued at approximately $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean Sobers sold 100,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total value of $1,004,000.00. Following the transaction, the chief financial officer directly owned 477,390 shares in the company, valued at approximately $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock valued at $2,642,100 in the last 90 days. Company insiders own 27.00% of the company's stock.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently modified their holdings of the business. Cerity Partners LLC raised its holdings in ThredUp by 6.7% during the second quarter. Cerity Partners LLC now owns 19,011 shares of the company's stock worth $142,000 after purchasing an additional 1,190 shares in the last quarter. SG Americas Securities LLC increased its stake in 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 period. The Manufacturers Life Insurance Company increased its position in shares of ThredUp by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company's stock worth $234,000 after purchasing an additional 1,601 shares during the last quarter. ProShare Advisors LLC increased its position in shares of ThredUp by 9.6% in the 2nd quarter. ProShare Advisors LLC now owns 18,658 shares of the company's stock worth $140,000 after purchasing an additional 1,631 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock valued at $115,000 after buying an additional 2,034 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

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.