Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Purchases $50,100.00 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 30,000 shares of ThredUp stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $1.67 per share, for a total transaction of $50,100.00. Following the completion of the transaction, the director now directly owns 244,033 shares in the company, valued at $407,535.11. This represents a 14.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

ThredUp Stock Performance

Shares of TDUP opened at $1.52 on Friday. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $2.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The stock’s 50-day moving average price is $0.89 and its 200-day moving average price is $1.29.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ThredUp

Hedge funds have recently bought and sold shares of the business. Blair William & Co. IL boosted its position in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after purchasing an additional 674,852 shares in the last quarter. BloombergSen Inc. purchased a new position in ThredUp during the second quarter worth approximately $131,000. SG Americas Securities LLC boosted its position in ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares in the last quarter. PEAK6 Investments LLC purchased a new position in ThredUp during the first quarter worth approximately $328,000. Finally, Sei Investments Co. purchased a new position in ThredUp during the second quarter worth approximately $37,000. Hedge funds and other institutional investors 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.