ThredUp (NASDAQ:TDUP) Shares Up 8.4% – Here’s What Happened

ThredUp Inc. (NASDAQ:TDUP) shares traded up 8.4% on Friday . The stock traded as high as $8.59 and last traded at $8.6050. 1,488,414 shares were traded during trading, a decline of 22% from the average session volume of 1,919,655 shares. The stock had previously closed at $7.94.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Roth Capital assumed coverage on ThredUp in a report on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ThredUp in a research report on Monday. Telsey Advisory Group reiterated an “outperform” rating and set a $12.00 price objective on shares of ThredUp in a report on Tuesday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Stock Up 9.3%

The company’s 50-day moving average is $8.38 and its 200 day moving average is $8.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.09 billion, a PE ratio of -28.92 and a beta of 1.71.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $77.34 million. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%. As a group, analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 51,220 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $380,052.40. Following the completion of the transaction, the chief financial officer directly owned 495,336 shares in the company, valued at $3,675,393.12. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Nova purchased 65,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $522,600.00. Following the completion of the transaction, the director directly owned 368,930 shares in the company, valued at $2,966,197.20. This trade represents a 21.39% increase in their position. The disclosure for this purchase is available in the SEC filing. 27.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC boosted its position in ThredUp by 6.7% in the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock worth $142,000 after purchasing an additional 1,190 shares in the last quarter. SG Americas Securities LLC grew its position in ThredUp by 5.0% during the second quarter. SG Americas Securities LLC now owns 27,167 shares of the company’s stock valued at $203,000 after buying an additional 1,296 shares during the period. The Manufacturers Life Insurance Company increased its holdings in ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after buying an additional 1,601 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of ThredUp by 9.6% in the 2nd quarter. ProShare Advisors LLC now owns 18,658 shares of the company’s stock valued at $140,000 after purchasing an additional 1,631 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after purchasing an additional 2,034 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.