ThredUp Sees Unusually High Options Volume (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) saw unusually large options trading activity on Friday. Investors purchased 5,250 put options on the stock. This represents an increase of 1,293% compared to the average daily volume of 377 put options.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TDUP. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, March 4th.

Insider Buying and Selling

In other ThredUp news, Director Patricia Nakache sold 625,498 shares of ThredUp 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 directly owns 250,956 shares of the company’s stock, valued at approximately $489,364.20. This trade represents a 71.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,833,612 shares of company stock worth $6,633,229. Corporate insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in ThredUp in the fourth quarter valued at about $348,000. State Street Corp increased its position in shares of ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after purchasing an additional 12,984 shares during the last quarter. Barclays PLC lifted its stake in shares of ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after purchasing an additional 76,553 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ThredUp by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after buying an additional 74,334 shares during the last quarter. Finally, Needham Investment Management LLC grew its position in ThredUp by 7.2% during 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. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

ThredUp Stock Performance

Shares of NASDAQ TDUP traded down $0.14 during trading on Friday, reaching $2.56. 312,616 shares of the company traded hands, compared to its average volume of 776,587. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $1.59. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.99. The stock has a market capitalization of $297.81 million, a PE ratio of -4.01 and a beta of 1.73.

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.