ThredUp (NASDAQ:TDUP) Posts Earnings Results, Hits Expectations

ThredUp (NASDAQ:TDUP) issued its quarterly earnings data on Monday. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04), FiscalAI reports. The company had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.

ThredUp Price Performance

Shares of NASDAQ:TDUP traded up $0.13 during trading on Monday, reaching $5.01. 6,381,960 shares of the company traded hands, compared to its average volume of 1,967,370. The firm has a market capitalization of $626.95 million, a PE ratio of -16.70 and a beta of 1.72. ThredUp has a 52 week low of $2.02 and a 52 week high of $12.28. 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 company’s 50 day moving average is $5.44 and its two-hundred day moving average is $7.84.

Insider Activity at ThredUp

In related news, 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 transaction of $380,052.40. Following the sale, the chief financial officer directly owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. The trade was a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christopher Homer sold 68,358 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $507,216.36. Following the transaction, the chief operating officer owned 1,170,567 shares of the company’s stock, valued at approximately $8,685,607.14. This represents a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TDUP. Raymond James Financial Inc. acquired a new stake in shares of ThredUp in the 2nd quarter valued at about $32,000. Quarry LP purchased a new position in ThredUp during the 3rd quarter worth $37,000. Meeder Asset Management Inc. increased its stake in ThredUp by 552.9% in the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after buying an additional 5,424 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in ThredUp by 110.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock worth $82,000 after acquiring an additional 5,744 shares during the period. Finally, nVerses Capital LLC purchased a new position in ThredUp in the fourth quarter valued at approximately $83,000. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDUP. Wall Street Zen cut ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $12.00 price target on shares of ThredUp in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ThredUp has a consensus rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Company Profile

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.