ThredUp (NASDAQ:TDUP) Downgraded by Wall Street Zen to “Hold”

ThredUp (NASDAQ:TDUP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on TDUP. Northland Securities set a $14.00 target price on shares of ThredUp in a report on Tuesday, August 5th. Telsey Advisory Group boosted their price objective on shares of ThredUp from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, August 5th. Finally, Northland Capmk upgraded shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.00.

ThredUp Stock Performance

NASDAQ:TDUP opened at $10.82 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -22.08 and a beta of 1.73. The firm’s fifty day simple moving average is $8.86 and its 200 day simple moving average is $6.00. ThredUp has a twelve month low of $0.50 and a twelve month high of $12.28.

Insider Transactions at ThredUp

In related news, Director Coretha M. Rushing sold 105,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares of the company’s stock, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean Sobers sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the sale, the chief financial officer directly owned 427,390 shares of the company’s stock, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,000 shares of company stock valued at $2,642,100. Insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of institutional investors have recently modified their holdings of the business. Needham Investment Management LLC grew its position in shares of ThredUp by 2.7% during the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock valued at $8,851,000 after buying an additional 167,500 shares during the last quarter. Marshall Wace LLP grew its position in shares of ThredUp by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after buying an additional 1,492,015 shares during the last quarter. Blair William & Co. IL grew its position in shares of ThredUp by 46.3% during the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company’s stock valued at $7,157,000 after buying an additional 939,449 shares during the last quarter. Acadian Asset Management LLC grew its position in ThredUp by 12.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company’s stock worth $5,905,000 after purchasing an additional 279,799 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in ThredUp by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,217,721 shares of the company’s stock worth $16,614,000 after purchasing an additional 238,129 shares during the last quarter. 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.