Daniel J. Nova Acquires 24,897 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 24,897 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $1.47 per share, for a total transaction of $36,598.59. Following the purchase, the director now directly owns 303,930 shares in the company, valued at $446,777.10. This represents a 8.92 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ThredUp Price Performance

Shares of NASDAQ TDUP traded up $0.04 during mid-day trading on Monday, reaching $1.77. The company’s stock had a trading volume of 280,140 shares, compared to its average volume of 680,727. The stock has a 50-day moving average of $0.91 and a two-hundred day moving average of $1.28. 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 stock has a market capitalization of $200.78 million, a P/E ratio of -2.70 and a beta of 0.75. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $2.60.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently bought and sold shares of the company. Blair William & Co. IL increased its position in shares of ThredUp by 285.0% during 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. Needham Investment Management LLC boosted its position 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 purchasing an additional 415,000 shares during the period. Acadian Asset Management LLC increased its holdings in ThredUp by 22.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after purchasing an additional 251,629 shares during the last quarter. Marshall Wace LLP lifted its stake in ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after purchasing an additional 209,792 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after buying an additional 169,196 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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