ThredUp (NASDAQ:TDUP) Rating Lowered to Hold at Wall Street Zen

ThredUp (NASDAQ:TDUP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $12.00 price objective on shares of ThredUp in a report on Tuesday, December 9th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ThredUp in a research note on Monday, December 8th. Finally, 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 on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

ThredUp Price Performance

NASDAQ:TDUP opened at $7.48 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $8.15 and its two-hundred day moving average price is $8.77. The firm has a market capitalization of $936.05 million, a price-to-earnings ratio of -24.93 and a beta of 1.71. ThredUp has a 12-month low of $1.21 and a 12-month high of $12.28.

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

Insider Activity at ThredUp

In other news, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Nova purchased 65,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $8.04 per share, with a total value of $522,600.00. Following the completion of the transaction, the director owned 368,930 shares of the company’s stock, valued at $2,966,197.20. This 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 currently owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in ThredUp by 42.6% in the 4th 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 in the last quarter. Nuveen LLC bought a new position in shares of ThredUp in the first quarter worth $571,000. American Century Companies Inc. bought a new position in shares of ThredUp in the first quarter worth $57,000. Walleye Capital LLC acquired a new position in ThredUp in the first quarter valued at about $175,000. Finally, MetLife Investment Management LLC bought a new stake in ThredUp during the first quarter worth about $120,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.