ThredUp (NASDAQ:TDUP) CFO Sells $201,804.22 in Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 45,554 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total value of $201,804.22. Following the sale, the chief financial officer owned 572,523 shares in the company, valued at approximately $2,536,276.89. This represents a 7.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Trading Up 0.4%

NASDAQ:TDUP opened at $4.82 on Friday. The company has a market cap of $621.97 million, a P/E ratio of -30.13 and a beta of 2.07. The stock’s fifty day moving average price is $4.18 and its two-hundred day moving average price is $5.18. ThredUp Inc. has a 1 year low of $3.08 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.95.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. As a group, analysts expect that ThredUp Inc. will post -0.09 EPS for the current year.

Institutional Investors Weigh In On ThredUp

A number of institutional investors and hedge funds have recently made changes to their positions in TDUP. Bank of America Corp DE raised its position in shares of ThredUp by 42.6% in the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after buying an additional 23,156 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after buying an additional 2,659 shares in the last quarter. AQR Capital Management LLC raised its position in shares of ThredUp by 185.9% in the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock worth $228,000 after buying an additional 61,547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ThredUp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after buying an additional 2,034 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of ThredUp by 39.2% in the first quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock worth $223,000 after buying an additional 25,995 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research report on Friday, March 27th. Wells Fargo & Company dropped their target price on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. TD Cowen increased their target price on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Telsey Advisory Group dropped their target price on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.