ThredUp (NASDAQ:TDUP) CFO Sean Sobers Sells 44,559 Shares

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $114,962.22. Following the sale, the chief financial officer directly owned 613,503 shares in the company, valued at $1,582,837.74. The trade was a 6.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Performance

Shares of TDUP traded up $0.19 during trading hours on Wednesday, hitting $2.71. The stock had a trading volume of 3,467,139 shares, compared to its average volume of 2,373,730. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50-day moving average price of $5.09 and a 200 day moving average price of $4.58. ThredUp Inc. has a fifty-two week low of $2.48 and a fifty-two week high of $11.90. The firm has a market capitalization of $355.92 million, a price-to-earnings ratio of -15.94 and a beta of 1.98.

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

Hedge Funds Weigh In On ThredUp

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in ThredUp during the third quarter valued at $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. increased its stake in shares of ThredUp by 552.9% during the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after purchasing an additional 5,424 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of ThredUp during the second quarter worth about $71,000. Finally, R Squared Ltd acquired a new position in shares of ThredUp during the 1st quarter worth about $34,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Roth Capital reissued a “buy” rating and set a $6.50 target price on shares of ThredUp in a research note on Thursday, August 6th. Telsey Advisory Group cut their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. TD Cowen upped their price target on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Wells Fargo & Company lowered their price target on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.55.

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.