Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Acquires 45,897 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 45,897 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the transaction, the director now directly owns 124,142 shares of the company’s stock, valued at $124,142. This trade represents a 58.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ThredUp Stock Performance

Shares of NASDAQ TDUP opened at $1.12 on Wednesday. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $2.60. The firm has a market cap of $127.41 million, a P/E ratio of -1.75 and a beta of 0.75. The stock has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Institutional Trading of ThredUp

Institutional investors have recently modified their holdings of the company. Blair William & Co. IL raised its position in ThredUp by 285.0% in the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after acquiring an additional 674,852 shares in the last quarter. Needham Investment Management LLC boosted its stake in shares of ThredUp by 7.2% during the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after acquiring an additional 415,000 shares in the last quarter. Bares Capital Management Inc. grew its holdings in shares of ThredUp by 11.4% in the 1st quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock worth $7,098,000 after acquiring an additional 362,221 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of ThredUp by 22.8% during 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. Finally, Marshall Wace LLP raised its holdings in ThredUp by 37.4% during the 2nd quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after buying an additional 209,792 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, ThredUp currently has an average rating of “Moderate Buy” and an average target price of $3.40.

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.