ThredUp's (TDUP) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• ThredUp's stock has been reaffirmed with a "sell (e+)" rating by Weiss Ratings, reflecting ongoing concerns among analysts about the company's performance.
• The overall consensus rating for ThredUp's stock is "Moderate Buy," with a price target set at $13.00 by various analysts, but there is significant variability in individual ratings.
• Recent insider trading has seen significant selling activity, with key executives reducing their holdings, indicating potential concerns about the company's future performance.

ThredUp (NASDAQ:TDUP - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

TDUP has been the topic of several other research reports. Northland Securities set a $14.00 price target on shares of ThredUp in a research report on Tuesday, August 5th. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Wells Fargo & Company lifted their price objective 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

ThredUp Trading Up 3.1%

ThredUp stock opened at $9.19 on Wednesday. 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 firm has a market cap of $1.13 billion, a price-to-earnings ratio of -18.76 and a beta of 1.71. ThredUp has a 1 year low of $0.50 and a 1 year high of $12.28. The firm's 50 day moving average price is $10.27 and its two-hundred day moving average price is $7.48.

Insider Buying and Selling at ThredUp

In other news, Director Coretha M. Rushing sold 105,000 shares of the business's 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 transaction, the director directly owned 148,197 shares in the company, valued at $1,603,491.54. The trade was a 41.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sean Sobers sold 100,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total transaction of $1,004,000.00. Following the transaction, the chief financial officer owned 477,390 shares in the company, valued at approximately $4,792,995.60. This represents a 17.32% decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP grew its holdings in shares of ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after acquiring an additional 68,790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ThredUp by 122.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company's stock valued at $1,342,000 after purchasing an additional 306,572 shares during the last quarter. BloombergSen Inc. lifted its stake in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after purchasing an additional 630,101 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ThredUp in the 1st quarter valued at $571,000. Finally, Informed Momentum Co LLC acquired a new stake in shares of ThredUp in the 1st quarter valued at $751,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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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