Brokerages Set ThredUp Inc. (NASDAQ:TDUP) Price Target at $3.33

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $3.33.

TDUP has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of ThredUp in a report on Tuesday, August 6th.

ThredUp Trading Down 14.0 %

Shares of TDUP opened at $0.75 on Friday. ThredUp has a 1 year low of $0.61 and a 1 year high of $4.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. The firm has a fifty day moving average of $1.34 and a 200-day moving average of $1.68.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. The firm had revenue of $79.76 million for the quarter, compared to analyst estimates of $82.58 million. During the same period last year, the firm posted ($0.18) EPS. Equities analysts forecast that ThredUp will post -0.54 earnings per share for the current year.

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 18,378 shares of ThredUp stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $2.05, for a total transaction of $37,674.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ThredUp news, Director Noam Paransky purchased 180,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $0.81 per share, for a total transaction of $145,800.00. Following the completion of the transaction, the director now owns 426,444 shares in the company, valued at $345,419.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia Nakache sold 18,378 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $2.05, for a total transaction of $37,674.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 280,000 shares of company stock worth $226,900 and have sold 377,645 shares worth $721,655. Company insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ieq Capital LLC raised its holdings in ThredUp by 35.7% during the 4th quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock worth $122,000 after buying an additional 14,326 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in ThredUp by 746.0% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 87,792 shares of the company’s stock worth $198,000 after buying an additional 77,415 shares during the period. Capital World Investors raised its holdings in ThredUp by 6.4% during the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock worth $19,305,000 after buying an additional 516,000 shares during the period. Tower Research Capital LLC TRC raised its holdings in ThredUp by 445.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock worth $37,000 after buying an additional 13,372 shares during the period. Finally, Bares Capital Management Inc. raised its holdings in ThredUp by 6.2% during the 4th quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock worth $7,170,000 after buying an additional 186,579 shares during the period. 89.08% of the stock is currently owned by 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.