MYDA Advisors LLC Takes $2.17 Million Position in ThredUp Inc. $TDUP

MYDA Advisors LLC purchased a new stake in ThredUp Inc. (NASDAQ:TDUP) during the fourth quarter, Holdings Channel reports. The firm purchased 340,000 shares of the company’s stock, valued at approximately $2,173,000.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of ThredUp in the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in shares of ThredUp in the 3rd quarter valued at about $37,000. Meeder Asset Management Inc. boosted its holdings in shares of 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 in the last quarter. Versor Investments LP bought a new stake in shares of ThredUp in the 4th quarter valued at about $70,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of ThredUp by 110.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock valued at $82,000 after buying an additional 5,744 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Activity at ThredUp

In other ThredUp news, COO Christopher Homer sold 61,578 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the sale, the chief operating officer owned 1,301,843 shares of the company’s stock, valued at approximately $5,767,164.49. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the transaction, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at $2,536,276.89. This represents a 7.37% decrease in their ownership of the stock. 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. 23.10% of the stock is currently owned by insiders.

ThredUp Price Performance

NASDAQ:TDUP opened at $5.05 on Monday. The company has a market cap of $651.65 million, a PE ratio of -31.56 and a beta of 2.07. ThredUp Inc. has a twelve month low of $3.08 and a twelve month high of $12.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $4.35 and its two-hundred day moving average is $5.08.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. Analysts anticipate that ThredUp Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TDUP shares. Telsey Advisory Group lowered their price target on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th. TD Cowen increased their price objective on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company dropped their target price on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

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.