ThredUp’s (TDUP) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $3.00 price target on the stock.

Several other equities analysts have also recently issued reports on TDUP. Wells Fargo & Company lowered their price objective on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

ThredUp Trading Down 1.0 %

NASDAQ TDUP opened at $0.62 on Tuesday. ThredUp has a 12 month low of $0.56 and a 12 month high of $3.80. The company’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $1.38. The company has a current ratio of 1.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.13) EPS 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 firm had revenue of $79.76 million during the quarter, compared to the consensus estimate of $82.58 million. During the same period in the prior year, the firm posted ($0.18) EPS. On average, analysts anticipate that ThredUp will post -0.55 EPS for the current year.

Insider Activity at ThredUp

In other news, Director Noam Paranksy acquired 90,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $72,000.00. Following the transaction, the director now owns 246,444 shares in the company, valued at approximately $197,155.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Noam Paransky purchased 180,000 shares of ThredUp stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $0.81 per share, with a total value of $145,800.00. Following the completion of the transaction, the director now directly owns 426,444 shares of the company’s stock, valued at $345,419.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noam Paranksy acquired 90,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 246,444 shares of the company’s stock, valued at $197,155.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 385,008 shares of company stock worth $308,906. 34.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of ThredUp by 33.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after acquiring an additional 5,635 shares during the last quarter. Rhumbline Advisers increased its position in ThredUp by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock worth $179,000 after purchasing an additional 6,421 shares during the last quarter. Diversified Trust Co raised its stake in shares of ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after purchasing an additional 15,175 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after buying an additional 15,850 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ThredUp by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after buying an additional 20,933 shares during the last quarter. 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.