Wall Street Zen Upgrades ThredUp (NASDAQ:TDUP) to Buy

ThredUp (NASDAQ:TDUP) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

TDUP has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, October 8th. Northland Capmk raised shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Thursday, September 4th. Roth Capital began coverage on shares of ThredUp in a report on Wednesday. They issued a “buy” rating and a $11.00 target price for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $12.00 target price on shares of ThredUp in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given 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 price target of $12.50.

ThredUp Trading Up 2.0%

Shares of TDUP opened at $8.79 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. ThredUp has a 1 year low of $0.50 and a 1 year high of $12.28. The company has a 50 day simple moving average of $9.88 and a two-hundred day simple moving average of $8.31. The firm has a market cap of $1.08 billion, a P/E ratio of -17.94 and a beta of 1.70.

Insiders Place Their Bets

In related news, Director Coretha M. Rushing sold 105,000 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean Sobers sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer owned 427,390 shares of the company’s stock, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is owned by corporate insiders.

Institutional Trading of ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of ThredUp during the second quarter worth $32,000. State of Alaska Department of Revenue bought a new stake in shares of ThredUp during the third quarter worth $55,000. Ameritas Investment Partners Inc. lifted its position in shares of ThredUp by 32.7% during the second quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock worth $70,000 after purchasing an additional 2,287 shares during the last quarter. Bensler LLC bought a new stake in shares of ThredUp during the second quarter worth $75,000. Finally, Victory Capital Management Inc. bought a new stake in shares of ThredUp during the first quarter worth $25,000. 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.