ThredUp (NASDAQ:TDUP) Stock Price Down 5.4% - What's Next?

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s share price was down 5.4% during mid-day trading on Tuesday . The stock traded as low as $7.07 and last traded at $7.15. Approximately 588,918 shares changed hands during trading, a decline of 55% from the average daily volume of 1,311,366 shares. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TDUP shares. Wells Fargo & Company restated an "overweight" rating and set a $7.50 target price (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Telsey Advisory Group boosted their target price on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

ThredUp Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day moving average of $7.26 and a 200-day moving average of $4.16. The firm has a market capitalization of $836.03 million, a price-to-earnings ratio of -12.25 and a beta of 1.73.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $67.54 million. As a group, research analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 271,762 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $3.43, for a total transaction of $932,143.66. Following the sale, the director owned 250,956 shares in the company, valued at $860,779.08. This represents a 51.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders sold 671,783 shares of company stock worth $2,256,470. Corporate insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC bought a new stake in shares of ThredUp during the 2nd quarter worth approximately $974,000. Voya Investment Management LLC bought a new stake in shares of ThredUp during the 1st quarter worth approximately $51,000. Rhumbline Advisers raised its stake in shares of ThredUp by 3.0% during the 1st quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock worth $241,000 after purchasing an additional 2,928 shares in the last quarter. Diker Management LLC raised its stake in shares of ThredUp by 5.6% during the 1st quarter. Diker Management LLC now owns 125,155 shares of the company's stock worth $302,000 after purchasing an additional 6,655 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in ThredUp by 12.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock valued at $5,905,000 after purchasing an additional 279,799 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.