Christopher Homer Sells 60,230 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the transaction, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Performance

TDUP stock opened at $2.67 on Friday. The firm has a 50 day moving average of $4.93 and a two-hundred day moving average of $4.56. ThredUp Inc. has a 12 month low of $2.48 and a 12 month high of $11.90. The company has a market capitalization of $350.65 million, a price-to-earnings ratio of -15.70 and a beta of 1.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. The business had revenue of $90.77 million for the quarter, compared to the consensus estimate of $90.34 million. As a group, equities analysts anticipate that ThredUp Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDUP. Quarry LP acquired a new position in ThredUp during the 3rd quarter worth $37,000. Raymond James Financial Inc. acquired a new stake in shares of ThredUp in the second quarter valued at about $32,000. Meeder Asset Management Inc. grew its position 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 valued at $41,000 after purchasing an additional 5,424 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of ThredUp in the second quarter worth about $71,000. Finally, R Squared Ltd bought a new position in shares of ThredUp in the first quarter worth about $34,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on TDUP shares. Roth Capital reaffirmed a “buy” rating and issued a $6.50 price target on shares of ThredUp in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Finally, Telsey Advisory Group cut their price objective on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.55.

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.