ThredUp (NASDAQ:TDUP) Now Covered by TD Cowen

TD Cowen initiated coverage on shares of ThredUp (NASDAQ:TDUP) in a research report report published on Friday,Zacks reports. The firm issued a strong-buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Monday, September 21st. Roth Capital reiterated a “buy” rating and issued a $6.50 target price on shares of ThredUp in a research report on Thursday, August 6th. Finally, Telsey Advisory Group dropped their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ThredUp has an average rating of “Moderate Buy” and a consensus price target of $6.55.

ThredUp Stock Performance

TDUP opened at $2.08 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $273.17 million, a price-to-earnings ratio of -12.23 and a beta of 2.11. The company has a fifty day moving average of $2.40 and a 200 day moving average of $4.16. ThredUp has a fifty-two week low of $1.91 and a fifty-two week high of $8.83.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. The company had revenue of $90.77 million during the quarter, compared to analysts’ expectations of $90.34 million. As a group, sell-side analysts forecast that ThredUp will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 60,230 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the transaction, the chief operating officer owned 1,363,358 shares in the company, valued at $3,517,463.64. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of ThredUp stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the transaction, the chief financial officer directly owned 613,503 shares of the company’s stock, valued at $1,582,837.74. The trade was a 6.77% 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. Insiders own 23.10% of the company’s stock.

Institutional Trading of ThredUp

Several hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in shares of ThredUp by 5,274.0% in the 3rd quarter. ProShare Advisors LLC now owns 740,542 shares of the company’s stock valued at $1,570,000 after purchasing an additional 726,762 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of ThredUp in the 3rd quarter worth approximately $59,000. WINTON GROUP Ltd purchased a new position in shares of ThredUp in the 2nd quarter worth approximately $320,000. Integrated Wealth Concepts LLC bought a new position in shares of ThredUp during the 2nd quarter valued at approximately $86,000. Finally, IFP Advisors Inc increased its position in shares of ThredUp by 634.8% during the 2nd quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock valued at $48,000 after purchasing an additional 6,081 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.