ThredUp (NASDAQ:TDUP) Given Hold Rating at Needham & Company LLC

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research note issued on Tuesday,Benzinga reports.

Separately, Telsey Advisory Group restated an “outperform” rating and set a $3.00 target price on shares of ThredUp in a report on Monday, February 24th.

ThredUp Stock Performance

TDUP stock opened at $2.44 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.99. The company has a market cap of $277.57 million, a P/E ratio of -3.81 and a beta of 1.75. The business’s fifty day moving average is $2.15 and its 200-day moving average is $1.42.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 625,498 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the transaction, the director now owns 250,956 shares in the company, valued at $489,364.20. This represents a 71.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,735,211 shares of company stock valued at $6,371,366 over the last ninety days. 34.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ThredUp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in ThredUp by 134.5% in the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock valued at $2,114,000 after acquiring an additional 872,357 shares during the last quarter. BloombergSen Inc. raised its position in shares of ThredUp by 278.9% during the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company’s stock worth $889,000 after acquiring an additional 470,768 shares during the last quarter. Renaissance Technologies LLC boosted its position in ThredUp by 75.2% during the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock valued at $1,360,000 after acquiring an additional 420,012 shares during the last quarter. Needham Investment Management LLC lifted its stake in ThredUp by 7.2% in the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after buying an additional 415,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in ThredUp in the fourth quarter worth $521,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.