ThredUp Inc. (NASDAQ:TDUP) Director Acquires $32,406.48 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Noam Paransky acquired 40,008 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the acquisition, the director now owns 586,452 shares in the company, valued at approximately $475,026.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Noam Paransky also recently made the following trade(s):

• On Friday, September 6th, Noam Paransky bought 40,000 shares of ThredUp stock. The shares were purchased at an average cost of $0.79 per share, with a total value of $31,600.00.
• On Wednesday, September 4th, Noam Paransky purchased 180,000 shares of ThredUp stock. The stock was acquired at an average cost of $0.81 per share, for a total transaction of $145,800.00.

ThredUp Price Performance

Shares of NASDAQ:TDUP traded up $0.13 during midday trading on Friday, reaching $0.98. 579,508 shares of the company’s stock were exchanged, compared to its average volume of 625,705. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06. The company’s 50 day simple moving average is $1.27 and its two-hundred day simple moving average is $1.65. ThredUp Inc. has a 12 month low of $0.61 and a 12 month high of $4.14. The firm has a market capitalization of $108.05 million, a PE ratio of -1.47 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. During the same quarter in the prior year, the business earned ($0.18) EPS. Equities research analysts expect that ThredUp Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on TDUP shares. Telsey Advisory Group restated an “outperform” rating and set a $3.00 target price on shares of ThredUp in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.33.

Institutional Trading of ThredUp

A number of large investors have recently bought and sold shares of TDUP. Price T Rowe Associates Inc. MD lifted its holdings in shares of ThredUp by 33.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after acquiring an additional 5,635 shares during the period. Rhumbline Advisers lifted its holdings in ThredUp by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock valued at $179,000 after purchasing an additional 6,421 shares during the last quarter. Ieq Capital LLC boosted its position in ThredUp by 35.7% in the fourth quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock valued at $122,000 after buying an additional 14,326 shares in the last quarter. Diversified Trust Co grew its stake in ThredUp by 117.3% during the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after buying an additional 15,175 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in ThredUp by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after buying an additional 20,933 shares during the last quarter. 89.08% of the stock is currently owned by 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.