Daniel J. Nova Acquires 30,000 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 30,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $1.21 per share, for a total transaction of $36,300.00. Following the acquisition, the director now directly owns 154,142 shares in the company, valued at $186,511.82. The trade was a 24.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

ThredUp Trading Up 12.5 %

ThredUp stock opened at $1.26 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.60. The firm’s fifty day moving average price is $0.83 and its 200-day moving average price is $1.31.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDUP. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Telsey Advisory Group restated an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company reduced their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently modified their holdings of TDUP. Price T Rowe Associates Inc. MD boosted its holdings in ThredUp by 33.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after acquiring an additional 5,635 shares during the period. Rhumbline Advisers lifted its holdings in ThredUp by 6.5% in the second quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock worth $179,000 after buying an additional 6,421 shares during the period. State Street Corp boosted its position in shares of ThredUp by 0.9% during the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after purchasing an additional 12,984 shares in the last quarter. Diversified Trust Co grew its position in shares of ThredUp by 117.3% in the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after buying an additional 15,175 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after purchasing an additional 15,850 shares in the last quarter. 89.08% of the stock is currently 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.