ThredUp (NASDAQ:TDUP) Stock Price Up 5.6% - Should You Buy?

Key Points

• ThredUp's stock price increased by 5.6% during trading, reaching a high of $10.85, despite a significant decline in trading volume.
• Analysts have set new price targets for ThredUp, with a consensus rating of "Buy" and an average target price of $13.00.
• Recent insider trading activity includes the CFO selling 100,000 shares for $1,004,000, reflecting a 17.32% decrease in his position.

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) traded up 5.6% during trading on Monday . The stock traded as high as $10.85 and last traded at $10.99. 150,442 shares traded hands during trading, a decline of 92% from the average session volume of 1,924,347 shares. The stock had previously closed at $10.41.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Telsey Advisory Group upped 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, Northland Securities set a $14.00 target price on shares of ThredUp in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, ThredUp presently has a consensus rating of "Buy" and an average target price of $13.00.

ThredUp Stock Performance

The firm's fifty day moving average price is $9.48 and its 200 day moving average price is $6.63. 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 market capitalization of $1.33 billion, a PE ratio of -22.04 and a beta of 1.75.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 100,000 shares of ThredUp stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total value of $1,004,000.00. Following the completion of the sale, the chief financial officer owned 477,390 shares of the company's stock, valued at approximately $4,792,995.60. The trade was a 17.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction on 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 approximately $1,603,491.54. The trade was a 41.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,000 shares of company stock worth $2,642,100. 27.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP lifted its stake in shares of ThredUp by 150.1% in the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after purchasing an additional 68,790 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in ThredUp by 122.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company's stock worth $1,342,000 after acquiring an additional 306,572 shares during the last quarter. BloombergSen Inc. lifted its position in ThredUp by 98.5% during the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock worth $3,060,000 after acquiring an additional 630,101 shares during the last quarter. Nuveen LLC acquired a new position in ThredUp during the 1st quarter worth $571,000. Finally, Informed Momentum Co LLC acquired a new position in ThredUp during the 1st quarter worth $751,000. 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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