ThredUp (NASDAQ:TDUP) Trading 5.6% Higher - 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.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Northland Securities set a $14.00 price target on ThredUp in a research report on Tuesday, August 5th. Wells Fargo & Company raised their target price on ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. Finally, Northland Capmk raised ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $13.00.

ThredUp Price Performance

The firm has a market capitalization of $1.30 billion, a P/E ratio of -21.49 and a beta of 1.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50 day simple moving average of $9.83 and a two-hundred day simple moving average of $6.85.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 100,000 shares of the 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 owned 477,390 shares of the company's stock, valued at $4,792,995.60. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction dated 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 sale, the director directly owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This trade represents a 41.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,000 shares of company stock worth $2,642,100 in the last three months. Insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently added to or reduced their stakes in TDUP. Marshall Wace LLP lifted its stake in ThredUp by 51.8% during the second quarter. Marshall Wace LLP now owns 4,373,596 shares of the company's stock worth $32,758,000 after purchasing an additional 1,492,015 shares during the last quarter. Prudential Financial Inc. lifted its stake in ThredUp by 3,625.5% during the second quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company's stock worth $9,221,000 after purchasing an additional 1,198,043 shares during the last quarter. Invesco Ltd. lifted its stake in ThredUp by 3,682.1% during the second quarter. Invesco Ltd. now owns 1,135,351 shares of the company's stock worth $8,504,000 after purchasing an additional 1,105,332 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in ThredUp during the first quarter worth about $2,338,000. Finally, Blair William & Co. IL lifted its stake in ThredUp by 46.3% during the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock worth $7,157,000 after purchasing an additional 939,449 shares during the last quarter. Institutional investors 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.