ThredUp Inc. (NASDAQ:TDUP) Receives $13.00 Average PT from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have been given an average recommendation of “Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.00.

A number of analysts have commented on TDUP shares. Northland Capmk upgraded shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Northland Securities set a $14.00 target price on shares of ThredUp in a research note on Tuesday, August 5th. Wells Fargo & Company lifted their target price on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. Telsey Advisory Group lifted their target price on shares of ThredUp from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th.

Insider Transactions at ThredUp

In other ThredUp news, CFO Sean Sobers sold 100,000 shares of ThredUp stock in a transaction dated 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 directly owned 477,390 shares of the company’s stock, valued at $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction dated 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 sale, the director owned 148,197 shares of the company’s stock, valued at approximately $1,603,491.54. This represents a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock worth $2,642,100 over the last ninety days. 27.00% of the stock is owned by insiders.

Institutional Investors Weigh In On ThredUp

Institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP increased its position in shares of ThredUp by 150.1% during the fourth 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of ThredUp by 122.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company’s stock valued at $1,342,000 after acquiring an additional 306,572 shares during the last quarter. Barclays PLC increased its position in shares of ThredUp by 14.7% during the fourth quarter. Barclays PLC now owns 119,325 shares of the company’s stock valued at $166,000 after acquiring an additional 15,307 shares during the last quarter. BloombergSen Inc. increased its position in shares of ThredUp by 98.5% during the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company’s stock valued at $3,060,000 after acquiring an additional 630,101 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of ThredUp during the first quarter valued at about $571,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Down 4.8%

TDUP stock opened at $10.40 on Wednesday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -21.22 and a beta of 1.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. ThredUp has a 12 month low of $0.50 and a 12 month high of $12.28. The firm has a 50-day moving average of $9.48 and a two-hundred day moving average of $6.57.

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.