ThredUp (NASDAQ:TDUP) Receives “Hold” Rating from Needham & Company LLC

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

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

ThredUp Stock Performance

NASDAQ TDUP opened at $2.23 on Tuesday. The company’s fifty day moving average is $2.10 and its two-hundred day moving average is $1.40. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The firm has a market capitalization of $253.68 million, a price-to-earnings ratio of -3.48 and a beta of 1.75.

Insider Transactions at ThredUp

In other ThredUp news, Director Patricia Nakache sold 60,274 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $2.71, for a total value of $163,342.54. Following the transaction, the director now directly owns 250,956 shares in the company, valued at $680,090.76. The trade was a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 2,739,811 shares of company stock valued at $6,379,508. 34.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC bought a new position in shares of ThredUp in the fourth quarter worth about $33,000. Cubist Systematic Strategies LLC bought a new position in ThredUp in the 4th quarter worth approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ThredUp by 9.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock worth $63,000 after buying an additional 3,908 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in ThredUp in the 4th quarter valued at $64,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.