ThredUp (NASDAQ:TDUP) COO Christopher Homer Sells 61,578 Shares

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 61,578 shares of the 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 transaction, the chief operating officer owned 1,301,843 shares in the company, valued at $5,767,164.49. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

ThredUp Trading Up 1.6%

TDUP stock opened at $4.57 on Thursday. The company has a market capitalization of $589.71 million, a PE ratio of -28.56 and a beta of 2.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95. ThredUp Inc. has a one year low of $3.08 and a one year high of $12.28. The company’s 50 day moving average price is $4.13 and its two-hundred day moving average price is $5.20.

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

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently modified their holdings of TDUP. CI Investments Inc. bought a new stake in shares of ThredUp in the first quarter worth about $5,937,000. Woodson Capital Management LP purchased a new stake in ThredUp in the 4th quarter worth approximately $11,502,000. Arrowstreet Capital Limited Partnership lifted its holdings in ThredUp by 263.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock worth $19,432,000 after buying an additional 1,491,020 shares during the period. Invesco Ltd. grew its position in shares of ThredUp by 3,682.1% in the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock worth $8,504,000 after buying an additional 1,105,332 shares during the last quarter. Finally, Divisadero Street Capital Management LP bought a new stake in shares of ThredUp in the 3rd quarter worth approximately $9,396,000. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TDUP has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” 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. Telsey Advisory Group decreased their price target on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, TD Cowen boosted their price objective on ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.14.

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.