ThredUp (NASDAQ:TDUP) Price Target Raised to $6.00

ThredUp (NASDAQ:TDUP) had its price objective increased by Wells Fargo & Company from $3.00 to $6.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Telsey Advisory Group increased their price target on shares of ThredUp from $3.00 to $6.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Trading Up 4.0 %

Shares of TDUP opened at $4.42 on Wednesday. ThredUp has a 12-month low of $0.50 and a 12-month high of $4.58. The firm has a market capitalization of $513.58 million, a P/E ratio of -6.91 and a beta of 1.64. The firm has a 50-day moving average price of $2.97 and a 200 day moving average price of $2.08. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In other ThredUp news, Director Patricia Nakache sold 420,711 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $2.61, for a total transaction of $1,098,055.71. Following the transaction, the director now directly owns 250,956 shares in the company, valued at $654,995.16. This represents a 62.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 2,237,744 shares of company stock valued at $6,243,897. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in ThredUp in the 1st quarter valued at about $25,000. CHICAGO TRUST Co NA acquired a new position in shares of ThredUp in the first quarter valued at approximately $30,000. ProShare Advisors LLC increased its stake in ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after buying an additional 7,287 shares during the period. Virtu Financial LLC acquired a new stake in ThredUp during the 4th quarter worth approximately $33,000. Finally, Cubist Systematic Strategies LLC purchased a new position in ThredUp in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.