ThredUp (NASDAQ:TDUP) Trading Down 5.4% - Here's What Happened

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

Analyst Ratings Changes

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

ThredUp Price Performance

The business has a 50-day simple moving average of $7.12 and a 200 day simple moving average of $4.08. The firm has a market cap of $820.66 million, a P/E ratio of -11.97 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative return on equity of 77.03% and a negative net margin of 22.41%. On average, analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Patricia Nakache sold 271,762 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $3.43, for a total value of $932,143.66. Following the completion of the transaction, the director owned 250,956 shares of the company's stock, valued at approximately $860,779.08. This represents a 51.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in TDUP. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ThredUp in the 4th quarter worth approximately $348,000. Virtu Financial LLC bought a new position in ThredUp during the 4th quarter valued at approximately $33,000. JPMorgan Chase & Co. increased its position in ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock valued at $280,000 after buying an additional 165,115 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in ThredUp during the 4th quarter valued at approximately $521,000. Finally, O Shaughnessy Asset Management LLC bought a new position in ThredUp during the 4th quarter valued at approximately $64,000. Institutional investors 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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