Daniel J. Nova Acquires 30,000 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 30,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $1.21 per share, for a total transaction of $36,300.00. Following the purchase, the director now owns 154,142 shares in the company, valued at $186,511.82. This trade represents a 24.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

ThredUp Stock Up 6.3 %

NASDAQ TDUP opened at $1.34 on Friday. The company has a market capitalization of $152.44 million, a P/E ratio of -2.09 and a beta of 0.75. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $2.60. 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 company’s 50 day simple moving average is $0.84 and its 200 day simple moving average is $1.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TDUP. Sei Investments Co. acquired a new stake in ThredUp during the 2nd quarter worth about $37,000. Price T Rowe Associates Inc. MD increased its position 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp during the second quarter valued at approximately $43,000. Diversified Trust Co raised its holdings in shares of ThredUp by 117.3% during the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock valued at $48,000 after acquiring an additional 15,175 shares during the period. Finally, Creekside Partners purchased a new stake in shares of ThredUp in the 2nd quarter valued at approximately $51,000. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research note on Tuesday, October 29th. Wells Fargo & Company decreased their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $3.40.

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.