Insider Selling: ThredUp (NASDAQ:TDUP) CFO Sells $380,052.40 in Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 51,220 shares of ThredUp stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $380,052.40. Following the completion of the transaction, the chief financial officer owned 495,336 shares in the company, valued at $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ThredUp Price Performance

ThredUp stock opened at $7.94 on Friday. ThredUp Inc. has a 12 month low of $1.21 and a 12 month high of $12.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $8.69. The stock has a market capitalization of $993.63 million, a PE ratio of -26.47 and a beta of 1.71.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $77.34 million. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. Equities analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp in the 1st quarter worth about $25,000. Raymond James Financial Inc. acquired a new position in ThredUp during the second quarter worth about $32,000. Quarry LP purchased a new stake in shares of ThredUp in the third quarter valued at about $37,000. Voya Investment Management LLC purchased a new stake in shares of ThredUp in the first quarter valued at about $51,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of ThredUp in the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

TDUP has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 price target on shares of ThredUp in a research note on Tuesday, November 4th. Roth Capital began coverage on shares of ThredUp in a report on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ThredUp in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given 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 price target of $12.50.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.