ThredUp Inc. (NASDAQ:TDUP) Receives $13.00 Consensus PT from Analysts

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

Several equities analysts recently issued reports on the company. Northland Capmk raised ThredUp to a “strong-buy” rating in a research report on Monday, July 21st. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Telsey Advisory Group upped their target price on ThredUp from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Northland Securities set a $14.00 target price on ThredUp in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th.

ThredUp Price Performance

NASDAQ TDUP opened at $10.40 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $9.48 and its 200 day moving average price is $6.57. ThredUp has a 1 year low of $0.50 and a 1 year high of $12.28. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -21.22 and a beta of 1.75.

Insider Buying and Selling at ThredUp

In other ThredUp news, CFO Sean Sobers sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer owned 427,390 shares in the company, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction dated 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 sale, the director directly owned 148,197 shares in the company, valued at approximately $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,000 shares of company stock worth $2,642,100. 27.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently modified their holdings of TDUP. Raymond James Financial Inc. purchased a new stake in shares of ThredUp during the second quarter worth about $32,000. Ameritas Investment Partners Inc. increased its stake in shares of ThredUp by 32.7% during the second quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock worth $70,000 after purchasing an additional 2,287 shares in the last quarter. Bensler LLC purchased a new stake in shares of ThredUp during the second quarter worth about $75,000. Victory Capital Management Inc. purchased a new stake in shares of ThredUp during the first quarter worth about $25,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of ThredUp by 110.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock worth $82,000 after purchasing an additional 5,744 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.