ThredUp Inc. (NASDAQ:TDUP) Receives $13.00 Average Target Price from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $13.00.

TDUP has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 5th. Telsey Advisory Group lifted their price target on shares of ThredUp from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Saturday, September 27th. Finally, Northland Securities set a $14.00 target price on shares of ThredUp in a research report on Tuesday, August 5th.

ThredUp Stock Performance

NASDAQ:TDUP opened at $8.91 on Friday. The firm has a 50 day simple moving average of $10.24 and a 200-day simple moving average of $7.47. 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 firm has a market cap of $1.10 billion, a PE ratio of -18.18 and a beta of 1.71. ThredUp has a 1-year low of $0.50 and a 1-year high of $12.28.

Insiders Place Their Bets

In other news, Director Coretha M. Rushing sold 105,000 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 148,197 shares of the company’s stock, valued at approximately $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sean Sobers sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total value of $1,004,000.00. Following the transaction, the chief financial officer owned 477,390 shares of the company’s stock, valued at approximately $4,792,995.60. This trade represents a 17.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,000 shares of company stock worth $2,642,100. Corporate insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in shares of ThredUp during the first quarter worth about $25,000. CHICAGO TRUST Co NA acquired a new position in shares of ThredUp in the 1st quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new position in shares of ThredUp in the 2nd quarter worth approximately $32,000. Voya Investment Management LLC acquired a new position in shares of ThredUp in the 1st quarter worth approximately $51,000. Finally, American Century Companies Inc. acquired a new position in shares of ThredUp in the 1st quarter worth approximately $57,000. Institutional investors own 89.08% of the company’s stock.

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.