Insider Buying: ThredUp (NASDAQ:TDUP) Director Buys $13,400.00 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman purchased 10,000 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were purchased at an average cost of $1.34 per share, for a total transaction of $13,400.00. Following the transaction, the director directly owned 471,661 shares in the company, valued at approximately $632,025.74. The trade was a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

ThredUp Stock Down 2.7%

TDUP stock opened at $1.45 on Thursday. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $4.01. ThredUp Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.76. The company has a market capitalization of $190.43 million, a price-to-earnings ratio of -8.06 and a beta of 2.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.05.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $88.23 million for the quarter, compared to analysts’ expectations of $88.05 million. ThredUp had a negative return on equity of 39.12% and a negative net margin of 6.89%. As a group, equities research analysts predict that ThredUp Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

TDUP has been the topic of a number of recent research reports. Northland Securities cut shares of ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 price target on the stock. in a research note on Thursday, November 5th. William Blair downgraded shares of ThredUp from an “outperform” rating to a “market perform” rating in a report on Thursday, November 5th. Roth Capital reiterated a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a research note on Thursday, August 6th. Weiss Ratings raised shares of ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, November 3rd. Finally, Telsey Advisory Group lowered their target price on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.64.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently bought and sold shares of TDUP. Arrowstreet Capital Limited Partnership boosted its holdings in ThredUp by 19.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock valued at $9,727,000 after purchasing an additional 473,907 shares during the period. CI Investments Inc. purchased a new position in shares of ThredUp during the 1st quarter valued at $5,937,000. Readystate Asset Management LP increased its holdings in shares of ThredUp by 197.4% in the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock worth $10,335,000 after purchasing an additional 1,001,482 shares during the period. Zweig DiMenna Associates LLC increased its holdings in shares of ThredUp by 170.1% in the first quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock worth $4,771,000 after purchasing an additional 916,000 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of ThredUp by 5,274.0% in the third quarter. ProShare Advisors LLC now owns 740,542 shares of the company’s stock worth $1,570,000 after purchasing an additional 726,762 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

ThredUp, Inc. operates an online resale platform for secondhand clothing, shoes, handbags and accessories. The company offers shoppers a range of pre-owned items from various brands and provides a way for people to resell eligible clothing through its platform. Through its consignment service, ThredUp handles much of the resale process, including receiving and inspecting items, photographing and listing them, and fulfilling purchases. It also works with brands and retailers through resale programs that support the resale of their products.