ThredUp (NASDAQ:TDUP) Rating Lowered to “Hold” at Wall Street Zen

ThredUp (NASDAQ:TDUP) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently issued reports on TDUP. Weiss Ratings reissued a “sell (d-)” rating on shares of ThredUp in a research note on Monday, December 8th. Roth Capital assumed coverage on shares of ThredUp in a research note on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 price objective on shares of ThredUp in a research report on Tuesday, December 9th. Two 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

ThredUp Price Performance

NASDAQ:TDUP opened at $7.48 on Friday. The firm’s fifty day moving average is $8.15 and its two-hundred day moving average is $8.76. The firm has a market cap of $936.05 million, a price-to-earnings ratio of -24.93 and a beta of 1.71. ThredUp has a one year low of $1.21 and a one year high of $12.28. 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 (NASDAQ:TDUP) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $77.34 million. Research analysts expect that ThredUp will post -0.56 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of ThredUp

A number of institutional investors and hedge funds have recently modified their holdings of TDUP. Quarry LP acquired a new position in shares of ThredUp in the 3rd quarter valued at about $37,000. Raymond James Financial Inc. bought a new position in shares of ThredUp in the second quarter valued at $32,000. State of Alaska Department of Revenue acquired a new position in shares of ThredUp in the 3rd quarter worth $55,000. Ameritas Investment Partners Inc. raised its holdings in ThredUp by 32.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock worth $70,000 after buying an additional 2,287 shares during the period. Finally, Bensler LLC purchased a new position in shares of ThredUp during the second quarter valued at $75,000. 89.08% of the stock is owned by institutional investors and hedge funds.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.