ThredUp (NASDAQ:TDUP) Stock Rating Lowered by Northland Securities

ThredUp (NASDAQ:TDUP) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a $2.00 target price on the stock. Northland Securities‘s price objective indicates a potential upside of 55.64% from the company’s previous close.

A number of other research analysts have also recently issued reports on TDUP. William Blair cut ThredUp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Roth Capital reiterated a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th. Telsey Advisory Group lowered their target price on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. TD Cowen assumed coverage on ThredUp in a report on Friday, October 30th. They set a “strong-buy” rating for the company. Finally, Weiss Ratings upgraded ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.64.

ThredUp Trading Down 11.4%

Shares of TDUP traded down $0.17 during mid-day trading on Thursday, reaching $1.28. The company’s stock had a trading volume of 2,490,598 shares, compared to its average volume of 1,577,794. ThredUp has a 52 week low of $1.28 and a 52 week high of $8.76. The stock has a market cap of $168.76 million, a PE ratio of -7.14 and a beta of 2.18. The company’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $4.07. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29.

ThredUp (NASDAQ:TDUP) last released its earnings results on Wednesday, November 4th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $88.23 million for the quarter, compared to analyst estimates of $88.05 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. On average, analysts predict that ThredUp will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at ThredUp

In related news, COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total value of $155,393.40. Following the sale, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at $3,517,463.64. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $114,962.22. Following the transaction, the chief financial officer owned 613,503 shares in the company, valued at approximately $1,582,837.74. This represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

Hedge Funds Weigh In On ThredUp

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in ThredUp by 634.8% in the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock worth $48,000 after acquiring an additional 6,081 shares during the period. Russell Investments Group Ltd. increased its position in ThredUp by 29.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 42,737 shares of the company’s stock valued at $91,000 after purchasing an additional 9,630 shares during the period. HB Wealth Management LLC bought a new position in ThredUp in the 2nd quarter worth $71,000. R Squared Ltd bought a new position in ThredUp in the 1st quarter worth $34,000. Finally, Abel Hall LLC bought a new position in ThredUp in the 1st quarter worth $39,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.