ThredUp (NASDAQ:TDUP) Releases Earnings Results, Beats Expectations By $0.01 EPS

ThredUp (NASDAQ:TDUP) issued its earnings results on Monday. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, Zacks reports. ThredUp had a negative net margin of 19.66% and a negative return on equity of 71.49%.

ThredUp Trading Down 3.3%

Shares of ThredUp stock traded down $0.29 on Monday, reaching $8.50. The company had a trading volume of 4,307,238 shares, compared to its average volume of 1,908,949. The firm’s 50 day moving average price is $9.88 and its two-hundred day moving average price is $8.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp has a 52-week low of $0.50 and a 52-week high of $12.28. The firm has a market cap of $1.05 billion, a PE ratio of -17.35 and a beta of 1.70.

Wall Street Analysts Forecast Growth

TDUP has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Northland Securities set a $14.00 target price on ThredUp in a research note on Tuesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Northland Capmk upgraded shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Insider Buying and Selling

In related news, Director Coretha M. Rushing sold 105,000 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of the transaction, the director directly owned 148,197 shares in the company, valued at $1,603,491.54. This trade represents a 41.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean Sobers sold 50,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $10.04, for a total transaction of $502,000.00. Following the sale, the chief financial officer directly owned 427,390 shares in the company, valued at $4,290,995.60. This represents a 10.47% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 255,000 shares of company stock worth $2,642,100. 27.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of ThredUp in the 2nd quarter valued at about $32,000. Tower Research Capital LLC TRC raised its holdings in shares of ThredUp by 110.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock valued at $82,000 after purchasing an additional 5,744 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after buying an additional 2,659 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in ThredUp during the 2nd quarter worth about $91,000. Finally, Bank of America Corp DE boosted its position in shares of ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after acquiring an additional 23,156 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Company Profile

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.