ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman Purchases 25,000 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $0.72 per share, for a total transaction of $18,000.00. Following the acquisition, the director now owns 310,748 shares in the company, valued at approximately $223,738.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ThredUp Stock Up 19.1 %

Shares of ThredUp stock opened at $0.85 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. ThredUp Inc. has a 1-year low of $0.61 and a 1-year high of $4.14. The business’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.66. The company has a market capitalization of $93.22 million, a P/E ratio of -1.32 and a beta of 0.72.

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

Institutional Trading of ThredUp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of ThredUp by 1.5% in the first quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock valued at $17,415,000 after acquiring an additional 127,600 shares in the last quarter. Bares Capital Management Inc. raised its holdings in ThredUp by 11.4% during the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock worth $7,098,000 after purchasing an additional 362,221 shares in the last quarter. Acadian Asset Management LLC lifted its position in ThredUp by 22.8% in the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after purchasing an additional 251,629 shares during the period. Blair William & Co. IL boosted its stake in ThredUp by 285.0% during the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after purchasing an additional 674,852 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of ThredUp by 37.4% during the 2nd quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock valued at $1,312,000 after purchasing an additional 209,792 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDUP has been the topic of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research report on Tuesday, August 6th. Wells Fargo & Company lowered their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, ThredUp currently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

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.