Insider Selling: ThredUp (NASDAQ:TDUP) CFO Sells 51,220 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $380,052.40. Following the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ThredUp Price Performance

Shares of NASDAQ TDUP traded down $0.01 on Tuesday, hitting $7.40. The company’s stock had a trading volume of 2,418,391 shares, compared to its average volume of 1,918,140. The stock has a 50 day moving average of $8.44 and a 200-day moving average of $8.70. The company has a market capitalization of $926.04 million, a price-to-earnings ratio of -24.67 and a beta of 1.71. ThredUp Inc. has a 12-month low of $1.21 and a 12-month high of $12.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $77.34 million. As a group, research analysts predict that ThredUp Inc. will post -0.56 EPS for the current year.

Hedge Funds Weigh In On ThredUp

Several large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in ThredUp in the 3rd quarter valued at about $37,000. Raymond James Financial Inc. purchased a new position in shares of ThredUp during the 2nd quarter worth about $32,000. State of Alaska Department of Revenue acquired a new stake in shares of ThredUp in the third quarter worth approximately $55,000. Ameritas Investment Partners Inc. grew its holdings in ThredUp by 32.7% in the second quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock valued at $70,000 after purchasing an additional 2,287 shares during the period. Finally, Bensler LLC acquired a new position in ThredUp during the second quarter worth approximately $75,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TDUP. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Northland Securities set a $14.00 target price on shares of ThredUp in a research note on Tuesday, August 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 price target on shares of ThredUp in a research note on Tuesday, November 4th. Roth Capital assumed coverage on shares of ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ThredUp in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

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.