ThredUp’s (TDUP) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of ThredUp (NASDAQ:TDUP) in a research note published on Wednesday morning, MarketBeat.com reports.

Several other research firms also recently weighed in on TDUP. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ThredUp has a consensus rating of “Moderate Buy” and an average target price of $3.33.

ThredUp Stock Down 1.2 %

Shares of NASDAQ:TDUP opened at $0.66 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.06 and a debt-to-equity ratio of 0.23. ThredUp has a 52-week low of $0.61 and a 52-week high of $3.80. The company has a 50 day moving average of $0.82 and a two-hundred day moving average of $1.41. The company has a market capitalization of $72.58 million, a price-to-earnings ratio of -1.12 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share 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 company had revenue of $79.76 million for the quarter, compared to analyst estimates of $82.58 million. During the same period in the previous year, the business posted ($0.18) EPS. As a group, analysts forecast that ThredUp will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Noam Paransky bought 180,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $0.81 per share, for a total transaction of $145,800.00. Following the completion of the purchase, the director now owns 426,444 shares of the company’s stock, valued at $345,419.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Patricia Nakache sold 45,465 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $2.06, for a total value of $93,657.90. Following the transaction, the director now owns 250,956 shares in the company, valued at $516,969.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noam Paransky purchased 180,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $0.81 per share, for a total transaction of $145,800.00. Following the acquisition, the director now owns 426,444 shares of the company’s stock, valued at $345,419.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 385,008 shares of company stock valued at $308,906. 34.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently modified their holdings of the business. Blair William & Co. IL raised its position in ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after buying an additional 674,852 shares during the last quarter. BloombergSen Inc. bought a new stake in ThredUp in the 2nd quarter valued at $131,000. PEAK6 Investments LLC bought a new stake in ThredUp in the 1st quarter valued at $328,000. Sei Investments Co. bought a new stake in ThredUp in the 2nd quarter valued at $37,000. Finally, Bank of New York Mellon Corp boosted its stake in ThredUp by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after purchasing an additional 20,933 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.