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

Key Points

• ThredUp Inc. (NASDAQ:TDUP) saw its stock price drop by 5.4%, closing at $10.53 after reaching a low of $10.55 during the trading session.
• Analyst ratings for ThredUp are mixed, with one "Strong Buy," three "Buy," and one "Hold," while Wells Fargo boosted the target price to $13.00.
• Insider selling has increased, with CFO Sean Sobers and Director Coretha M. Rushing selling a combined 155,000 shares, suggesting potential shifts in confidence among company leaders.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) dropped 5.4% on Tuesday . The stock traded as low as $10.55 and last traded at $10.53. Approximately 427,844 shares were traded during trading, a decline of 78% from the average daily volume of 1,933,741 shares. The stock had previously closed at $11.13.

Analyst Ratings Changes

TDUP has been the topic of several recent research reports. Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Northland Securities set a $14.00 target price on ThredUp in a report on Tuesday, August 5th. Wells Fargo & Company lifted their target price on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Northland Capmk raised ThredUp to a "strong-buy" rating in a report on Monday, July 21st. One research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $13.00.

ThredUp Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.32 billion, a PE ratio of -21.91 and a beta of 1.75. The firm's 50-day moving average is $9.24 and its 200-day moving average is $6.40.

Insider Transactions at ThredUp

In other news, CFO Sean Sobers sold 50,000 shares of ThredUp stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer directly owned 427,390 shares in the company, valued at $4,290,995.60. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 148,197 shares in the company, 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. In the last ninety days, insiders have sold 255,000 shares of company stock worth $2,642,100. Insiders own 27.00% of the company's stock.

Hedge Funds Weigh In On ThredUp

Several large investors have recently modified their holdings of TDUP. Victory Capital Management Inc. bought a new position in ThredUp in the first quarter worth approximately $25,000. CHICAGO TRUST Co NA acquired a new stake in ThredUp in the first quarter worth about $30,000. ProShare Advisors LLC grew its holdings in ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after acquiring an additional 7,287 shares during the period. Raymond James Financial Inc. purchased a new position in ThredUp during the second quarter valued at approximately $32,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp in the 4th quarter valued at $48,000. 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.

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