ThredUp (NASDAQ:TDUP) Upgraded at Roth Capital

Roth Capital upgraded shares of ThredUp (NASDAQ:TDUP) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

Several other brokerages also recently weighed in on TDUP. Wells Fargo & Company upped their target price on shares of ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 target price on shares of ThredUp in a research note on Monday, October 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Northland Capmk raised shares of ThredUp to a “strong-buy” rating in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

ThredUp Price Performance

ThredUp stock opened at $8.79 on Wednesday. The company’s 50 day simple moving average is $9.88 and its 200-day simple moving average is $8.24. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -17.94 and a beta of 1.71. ThredUp has a 1 year low of $0.50 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96.

Insider Buying and Selling

In other ThredUp news, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the sale, the director directly owned 148,197 shares of the company’s stock, valued at approximately $1,603,491.54. This represents a 41.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sean Sobers sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 255,000 shares of company stock worth $2,642,100. Insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of ThredUp in the 1st quarter valued at $25,000. Raymond James Financial Inc. acquired a new position in shares of ThredUp in the 2nd quarter valued at $32,000. Voya Investment Management LLC acquired a new position in shares of ThredUp in the 1st quarter valued at $51,000. State of Alaska Department of Revenue acquired a new position in shares of ThredUp in the 3rd quarter valued at $55,000. Finally, American Century Companies Inc. acquired a new position in shares of ThredUp in the 1st quarter valued at $57,000. 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.