Sean Sobers Sells 44,559 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 44,559 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $114,962.22. Following the sale, the chief financial officer directly owned 613,503 shares in the company, valued at approximately $1,582,837.74. This represents a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Performance

ThredUp stock traded up $0.19 during mid-day trading on Wednesday, reaching $2.71. 3,467,139 shares of the company traded hands, compared to its average volume of 2,373,730. The firm’s fifty day moving average is $5.09 and its two-hundred day moving average is $4.58. The company has a market capitalization of $355.92 million, a price-to-earnings ratio of -15.94 and a beta of 1.98. ThredUp Inc. has a fifty-two week low of $2.48 and a fifty-two week high of $11.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $90.77 million for the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. On average, equities research analysts expect that ThredUp Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDUP has been the subject of several research analyst reports. Telsey Advisory Group reduced their price objective on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Roth Capital reiterated a “buy” rating and issued a $6.50 price target on shares of ThredUp in a report on Thursday, August 6th. Wells Fargo & Company reduced their price target on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, June 24th. Finally, TD Cowen upped their price objective on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ThredUp currently has an average rating of “Moderate Buy” and an average price target of $6.55.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of ThredUp in the 2nd quarter valued at about $32,000. R Squared Ltd purchased a new stake in shares of ThredUp in the first quarter worth about $34,000. Quarry LP acquired a new stake in ThredUp during the third quarter worth about $37,000. Abel Hall LLC acquired a new stake in ThredUp during the first quarter worth about $39,000. Finally, Meeder Asset Management Inc. raised its position in ThredUp by 552.9% during the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after acquiring an additional 5,424 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.