Insider Buying: ThredUp (NASDAQ:TDUP) Director Purchases 13,157 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Patricia Nakache bought 13,157 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $3.73 per share, with a total value of $49,075.61. Following the completion of the acquisition, the director owned 14,017 shares of the company’s stock, valued at $52,283.41. This trade represents a 1,529.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ThredUp Price Performance

Shares of NASDAQ TDUP remained flat at $3.73 during trading hours on Tuesday. The company had a trading volume of 2,855,216 shares, compared to its average volume of 2,643,054. ThredUp Inc. has a 12 month low of $2.16 and a 12 month high of $12.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a 50 day moving average price of $5.15 and a 200-day moving average price of $7.56.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Sell-side analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on TDUP shares. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th. Wells Fargo & Company cut their target price on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Finally, Telsey Advisory Group reduced their price target on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in shares of ThredUp during the third quarter valued at $37,000. Raymond James Financial Inc. bought a new position in ThredUp in the 2nd quarter worth about $32,000. State of Alaska Department of Revenue bought a new position in ThredUp in the 3rd quarter worth about $55,000. Meeder Asset Management Inc. grew its position in ThredUp by 552.9% during the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after purchasing an additional 5,424 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in ThredUp by 32.7% during the 2nd 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 last quarter. 89.08% of the stock is currently owned by institutional investors.

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.