ThredUp (NASDAQ:TDUP) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of ThredUp (NASDAQ:TDUP) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Telsey Advisory Group cut their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Northland Securities downgraded ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 price objective for the company. in a report on Thursday, November 5th. Weiss Ratings raised ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, November 3rd. TD Cowen began coverage on ThredUp in a research note on Friday, October 30th. They issued a “strong-buy” rating on the stock. Finally, Wells Fargo & Company cut their target price on ThredUp from $8.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.64.

ThredUp Stock Performance

Shares of TDUP opened at $1.36 on Friday. The firm has a market cap of $179.27 million, a P/E ratio of -7.58 and a beta of 2.18. ThredUp has a twelve month low of $1.24 and a twelve month high of $8.76. 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 firm’s 50 day moving average price is $2.27 and its two-hundred day moving average price is $4.05.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $88.23 million during the quarter, compared to the consensus estimate of $88.05 million. ThredUp had a negative net margin of 6.89% and a negative return on equity of 39.23%. On average, analysts forecast that ThredUp will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other ThredUp news, COO Christopher Homer sold 60,230 shares of ThredUp stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the sale, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer owned 613,503 shares in the company, valued at $1,582,837.74. The trade was a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 company insiders.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Readystate Asset Management LP grew its stake in shares of ThredUp by 197.4% in the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock valued at $10,335,000 after buying an additional 1,001,482 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in ThredUp by 19.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock worth $9,727,000 after acquiring an additional 473,907 shares in the last quarter. CI Investments Inc. bought a new stake in ThredUp during the first quarter worth $5,937,000. Zweig DiMenna Associates LLC lifted its stake in ThredUp by 170.1% in the first quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock valued at $4,771,000 after acquiring an additional 916,000 shares during the last quarter. Finally, ProShare Advisors LLC grew its position 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 acquiring an additional 726,762 shares during the period. Institutional investors own 89.08% of the company’s stock.

ThredUp Company Profile

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.