Needham & Company LLC Reaffirms “Hold” Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Separately, Telsey Advisory Group raised their price objective on ThredUp from $2.00 to $3.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th.

ThredUp Price Performance

NASDAQ:TDUP traded down $0.04 during mid-day trading on Friday, reaching $2.63. The stock had a trading volume of 266,835 shares, compared to its average volume of 1,265,196. ThredUp has a 12 month low of $0.50 and a 12 month high of $2.75. The stock has a market capitalization of $299.19 million, a PE ratio of -4.09 and a beta of 1.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The stock has a 50-day simple moving average of $1.86 and a two-hundred day simple moving average of $1.28.

Insider Transactions at ThredUp

In other news, Director Daniel J. Nova acquired 45,897 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $1.00 per share, with a total value of $45,897.00. Following the completion of the purchase, the director now directly owns 124,142 shares of the company’s stock, valued at $124,142. This represents a 58.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Nakache sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $1.77, for a total transaction of $73,766.52. Following the completion of the transaction, the director now owns 250,956 shares of the company’s stock, valued at approximately $444,192.12. This trade represents a 14.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 160,685 shares of company stock worth $212,238 and sold 2,384,338 shares worth $5,315,309. Company insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently made changes to their positions in TDUP. SG Americas Securities LLC raised its holdings in ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the last quarter. BloombergSen Inc. raised its stake in ThredUp by 118.5% during the third quarter. BloombergSen Inc. now owns 168,780 shares of the company’s stock worth $142,000 after buying an additional 91,518 shares during the last quarter. Privium Fund Management B.V. lifted its holdings in ThredUp by 76.3% in the third quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock valued at $323,000 after buying an additional 165,935 shares during the period. Needham Investment Management LLC grew its stake in ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after purchasing an additional 415,000 shares during the period. Finally, State Street Corp increased its holdings in ThredUp by 0.9% in the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after purchasing an additional 12,984 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.