ThredUp Inc. (NASDAQ:TDUP) Receives $12.50 Consensus Price Target from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.50.

TDUP has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Wall Street Zen cut ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 price objective on shares of ThredUp in a research report on Tuesday, December 9th. Finally, Roth Mkm initiated coverage on ThredUp in a report on Wednesday, October 29th. They issued a “buy” rating and a $11.00 target price on the stock.

Insiders Place Their Bets

In related news, COO Christopher Homer sold 68,358 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $507,216.36. Following the completion of the sale, the chief operating officer owned 1,170,567 shares in the company, valued at $8,685,607.14. This trade represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean Sobers sold 51,220 shares of ThredUp stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $380,052.40. Following the completion of the sale, the chief financial officer directly owned 495,336 shares in the company, valued at $3,675,393.12. This represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. 27.00% of the stock is currently owned by corporate insiders.

Institutional Trading of ThredUp

Several hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. boosted its stake in shares of ThredUp by 63.5% in the fourth quarter. Maverick Capital Ltd. now owns 691,689 shares of the company’s stock valued at $4,420,000 after buying an additional 268,695 shares in the last quarter. Marshall Wace LLP boosted its position in shares of ThredUp by 11.8% during the 4th quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock worth $30,833,000 after purchasing an additional 509,195 shares in the last quarter. Archon Capital Management LLC grew its stake in shares of ThredUp by 40.9% during the 4th quarter. Archon Capital Management LLC now owns 347,251 shares of the company’s stock worth $2,219,000 after purchasing an additional 100,801 shares during the period. Onex Canada Asset Management Inc. purchased a new position in shares of ThredUp in the 4th quarter valued at about $2,959,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of ThredUp by 36.4% in the fourth quarter. Rafferty Asset Management LLC now owns 43,325 shares of the company’s stock valued at $277,000 after purchasing an additional 11,570 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Stock Performance

Shares of ThredUp stock opened at $4.70 on Friday. The firm’s fifty day simple moving average is $6.10 and its 200-day simple moving average is $8.19. ThredUp has a 12 month low of $2.02 and a 12 month high of $12.28. The stock has a market capitalization of $588.16 million, a price-to-earnings ratio of -15.67 and a beta of 1.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.