ThredUp Inc. (NASDAQ:TDUP) Director Buys $43,341.95 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 29,891 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $1.45 per share, with a total value of $43,341.95. Following the transaction, the director now directly owns 214,033 shares in the company, valued at $310,347.85. This trade represents a 16.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

ThredUp Price Performance

ThredUp stock opened at $1.52 on Thursday. The stock has a market cap of $172.92 million, a P/E ratio of -2.38 and a beta of 0.75. The company has a fifty day simple moving average of $0.89 and a 200-day simple moving average of $1.29. ThredUp Inc. has a 12-month low of $0.50 and a 12-month high of $2.60. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Institutional Investors Weigh In On ThredUp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL lifted 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 valued at $1,550,000 after acquiring an additional 674,852 shares during the last quarter. BloombergSen Inc. purchased a new stake in ThredUp in the second quarter valued at $131,000. SG Americas Securities LLC lifted its position in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after acquiring an additional 15,850 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in ThredUp in the first quarter valued at $328,000. Finally, Sei Investments Co. purchased a new stake in ThredUp in the second quarter valued at $37,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TDUP. Wells Fargo & Company decreased 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.40.

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.