ThredUp’s (TDUP) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a report released on Tuesday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Roth Capital started coverage on ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ThredUp in a report on Monday, December 1st. Wall Street Zen upgraded ThredUp from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Price Performance

TDUP stock opened at $8.49 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.92. ThredUp has a 52 week low of $1.21 and a 52 week high of $12.28. The firm’s fifty day moving average is $8.33 and its 200 day moving average is $8.74. The firm has a market cap of $1.06 billion, a P/E ratio of -28.30 and a beta of 1.71.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $77.34 million. Research analysts predict that ThredUp will post -0.56 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $380,052.40. Following the completion of the sale, the chief financial officer owned 495,336 shares of the company’s stock, valued at $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Homer sold 68,358 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $507,216.36. Following the completion of the transaction, the chief operating officer owned 1,170,567 shares of the company’s stock, valued at approximately $8,685,607.14. The trade was a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 27.00% of the stock is owned by company insiders.

Institutional Trading of ThredUp

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in ThredUp in the 3rd quarter worth about $37,000. Raymond James Financial Inc. bought a new stake in shares of ThredUp during the 2nd quarter valued at about $32,000. State of Alaska Department of Revenue purchased a new stake in shares of ThredUp during the 3rd quarter valued at about $55,000. Ameritas Investment Partners Inc. lifted its stake in shares of ThredUp by 32.7% in the 2nd 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 during the period. Finally, Bensler LLC bought a new position in shares of ThredUp in the 2nd quarter worth approximately $75,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.