Brokerages Set ThredUp Inc. (NASDAQ:TDUP) PT at $13.00

ThredUp Inc. (NASDAQ:TDUP) has been given an average rating of “Buy” by the five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.00.

Several equities research analysts have recently weighed in on the company. Telsey Advisory Group increased their price objective on ThredUp from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Northland Capmk raised ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Thursday, September 4th. Finally, Wells Fargo & Company increased their price objective on ThredUp from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, August 5th.

Insider Activity at ThredUp

In other news, Director Coretha M. Rushing sold 105,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was 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 in the company, valued at $1,603,491.54. This represents a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sean Sobers sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the sale, the chief financial officer owned 427,390 shares of the company’s stock, valued at $4,290,995.60. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock valued at $2,642,100 in the last 90 days. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Large investors have recently modified their holdings of the stock. Needham Investment Management LLC lifted its position in ThredUp by 2.7% in the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock valued at $8,851,000 after purchasing an additional 167,500 shares during the period. Marshall Wace LLP lifted its position in ThredUp by 51.8% in the second quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after purchasing an additional 1,492,015 shares during the period. Blair William & Co. IL lifted its position in ThredUp by 46.3% in the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company’s stock valued at $7,157,000 after purchasing an additional 939,449 shares during the period. Acadian Asset Management LLC lifted its position in ThredUp by 12.9% in the first quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company’s stock valued at $5,905,000 after purchasing an additional 279,799 shares during the period. Finally, Geode Capital Management LLC grew its holdings in ThredUp by 12.0% during the second quarter. Geode Capital Management LLC now owns 2,217,721 shares of the company’s stock worth $16,614,000 after acquiring an additional 238,129 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Stock Performance

Shares of ThredUp stock opened at $10.40 on Wednesday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -21.22 and a beta of 1.75. ThredUp has a 52 week low of $0.50 and a 52 week high of $12.28. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $9.48 and its two-hundred day moving average is $6.57.

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.