Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Buys 29,891 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 29,891 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $1.45 per share, with a total value of $43,341.95. Following the transaction, the director now owns 214,033 shares in the company, valued at $310,347.85. The trade was a 16.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ThredUp Stock Performance

Shares of TDUP opened at $1.52 on Wednesday. ThredUp Inc. has a one year low of $0.50 and a one year high of $2.60. The business has a fifty day moving average of $0.87 and a 200 day moving average of $1.29. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TDUP shares. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.40.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently made changes to their positions in TDUP. PEAK6 Investments LLC bought a new position in shares of ThredUp in the 1st quarter worth approximately $328,000. Price T Rowe Associates Inc. MD raised its position in ThredUp by 33.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after acquiring an additional 5,635 shares during the period. Diversified Trust Co raised its position in ThredUp by 117.3% in the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after acquiring an additional 15,175 shares during the period. Bank of New York Mellon Corp grew its position in shares of ThredUp by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after acquiring an additional 20,933 shares during the period. Finally, BloombergSen Inc. bought a new stake in shares of ThredUp during the 2nd quarter valued at $131,000. 89.08% of the stock is currently owned by institutional investors.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.