Telsey Advisory Group Reaffirms Outperform Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group restated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report sent to investors on Wednesday, Benzinga reports. Telsey Advisory Group currently has a $3.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $5.00 price target on shares of ThredUp in a research note on Tuesday, May 7th. Wedbush decreased their price target on shares of ThredUp from $4.00 to $3.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ThredUp presently has an average rating of Moderate Buy and a consensus target price of $3.33.

ThredUp Trading Down 10.5 %

TDUP opened at $1.84 on Wednesday. ThredUp has a 1-year low of $1.51 and a 1-year high of $4.39. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22. The company has a market cap of $202.33 million, a P/E ratio of -2.87 and a beta of 0.79. The company has a fifty day moving average price of $1.85 and a two-hundred day moving average price of $1.91.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ThredUp had a negative net margin of 20.88% and a negative return on equity of 63.62%. The company had revenue of $79.59 million during the quarter, compared to the consensus estimate of $80.28 million. Analysts predict that ThredUp will post -0.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Patricia Nakache sold 149,327 shares of ThredUp stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $2.05, for a total transaction of $306,120.35. Following the completion of the transaction, the director now directly owns 240,438 shares in the company, valued at $492,897.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Alon Rotem sold 23,042 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $2.01, for a total transaction of $46,314.42. Following the transaction, the insider now directly owns 218,348 shares in the company, valued at $438,879.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia Nakache sold 149,327 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $2.05, for a total transaction of $306,120.35. Following the transaction, the director now owns 240,438 shares in the company, valued at $492,897.90. The disclosure for this sale can be found here. Insiders sold 774,453 shares of company stock worth $1,522,231 over the last three months. 34.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Capital World Investors boosted its stake in ThredUp by 6.4% in the fourth quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock valued at $19,305,000 after acquiring an additional 516,000 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in ThredUp by 746.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 87,792 shares of the company’s stock valued at $198,000 after acquiring an additional 77,415 shares during the last quarter. Bares Capital Management Inc. boosted its stake in ThredUp by 6.2% in the fourth quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock valued at $7,170,000 after acquiring an additional 186,579 shares during the last quarter. Ieq Capital LLC boosted its stake in ThredUp by 35.7% in the fourth quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock valued at $122,000 after acquiring an additional 14,326 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in ThredUp by 702.7% in the first quarter. Blair William & Co. IL now owns 236,800 shares of the company’s stock valued at $474,000 after acquiring an additional 207,300 shares during the last quarter. 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.