ThredUp Inc. (NASDAQ:TDUP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.14.

Several analysts recently weighed in on TDUP shares. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Telsey Advisory Group reduced their price target on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Wells Fargo & Company reduced their price target on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, TD Cowen upped their target price on ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a report on Tuesday, May 5th.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 45,554 shares of the company’s stock in a transaction that occurred 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 directly owned 572,523 shares in the company, valued at $2,536,276.89. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the sale, the chief operating officer directly owned 1,301,843 shares in the company, valued at approximately $5,767,164.49. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.10% of the company’s stock.

Institutional Trading of ThredUp

A number of institutional investors have recently bought and sold shares of TDUP. Bank of America Corp DE boosted its position in ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after acquiring an additional 23,156 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of ThredUp by 7.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after purchasing an additional 2,659 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of ThredUp by 185.9% during the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock valued at $228,000 after purchasing an additional 61,547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of ThredUp by 39.2% during the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock valued at $223,000 after purchasing an additional 25,995 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

ThredUp Trading Up 2.7%

TDUP opened at $4.96 on Friday. ThredUp has a fifty-two week low of $3.08 and a fifty-two week 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. The firm has a market capitalization of $640.04 million, a price-to-earnings ratio of -31.00 and a beta of 2.07. The company’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $5.10.

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

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.