ThredUp (NASDAQ:TDUP) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of ThredUp (NASDAQ:TDUP) in a report released on Tuesday morning,Benzinga reports.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research note on Tuesday, October 29th.

ThredUp Price Performance

TDUP opened at $2.17 on Tuesday. ThredUp has a 1 year low of $0.50 and a 1 year high of $2.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The company’s 50 day simple moving average is $1.43 and its 200 day simple moving average is $1.20. The stock has a market capitalization of $246.86 million, a PE ratio of -3.39 and a beta of 1.66.

Insider Transactions at ThredUp

In other ThredUp news, Director Daniel J. Nova purchased 45,191 shares of ThredUp stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $0.97 per share, with a total value of $43,835.27. Following the completion of the transaction, the director now directly owns 54,112 shares in the company, valued at approximately $52,488.64. This represents a 506.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Nakache sold 41,676 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $1.77, for a total transaction of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at $444,192.12. The trade was a 14.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 214,797 shares of company stock worth $264,905 and sold 922,112 shares worth $1,840,991. Company insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDUP. Blair William & Co. IL boosted its position in shares of 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 buying an additional 674,852 shares during the period. SG Americas Securities LLC lifted its position in ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after acquiring an additional 15,850 shares in the last quarter. State Street Corp boosted its holdings in ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after acquiring an additional 12,984 shares during the period. Sei Investments Co. acquired a new stake in ThredUp in the second quarter valued at approximately $37,000. Finally, Bank of New York Mellon Corp raised its stake in shares of ThredUp by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after purchasing an additional 20,933 shares during the period. 89.08% of the stock is 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.