ThredUp (NASDAQ:TDUP) Director Patricia Nakache Purchases 13,157 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Patricia Nakache bought 13,157 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the purchase, the director owned 14,017 shares of the company’s stock, valued at approximately $52,283.41. This represents a 1,529.88% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ThredUp Price Performance

Shares of TDUP remained flat at $3.73 on Tuesday. 2,855,216 shares of the company traded hands, compared to its average volume of 2,643,054. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $7.56. ThredUp Inc. has a 12 month low of $2.16 and a 12 month high of $12.28.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). ThredUp had a negative net margin of 6.50% and a negative return on equity of 34.48%. The company had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.17 million. As a group, equities research analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TDUP shares. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Wells Fargo & Company reduced their price objective on ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th. Finally, Telsey Advisory Group lowered their target price on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently added to or reduced their stakes in TDUP. Raymond James Financial Inc. bought a new stake in ThredUp during the second quarter valued at about $32,000. Quarry LP bought a new position in shares of ThredUp in the third quarter worth about $37,000. Meeder Asset Management Inc. raised its stake in shares of ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after buying an additional 5,424 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of ThredUp during the 3rd quarter valued at about $55,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of ThredUp by 32.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock valued at $70,000 after buying an additional 2,287 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

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.