ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova Purchases 24,897 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova acquired 24,897 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $1.47 per share, with a total value of $36,598.59. Following the completion of the transaction, the director now owns 303,930 shares of the company’s stock, valued at approximately $446,777.10. This represents a 8.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ThredUp Stock Performance

Shares of TDUP traded up $0.04 during midday trading on Monday, reaching $1.77. 280,140 shares of the stock were exchanged, compared to its average volume of 680,727. The business’s 50-day moving average price is $0.91 and its 200 day moving average price is $1.28. The company has a market capitalization of $200.78 million, a price-to-earnings ratio of -2.70 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $2.60.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Needham Investment Management LLC raised its position in ThredUp by 7.2% in the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after purchasing an additional 415,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ThredUp by 4.1% during 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 period. State Street Corp increased its position in ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after acquiring an additional 12,984 shares during the period. Acadian Asset Management LLC raised its stake in ThredUp by 22.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after acquiring an additional 251,629 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in ThredUp by 285.0% during the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after acquiring an additional 674,852 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.