Daniel J. Nova Purchases 45,191 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) Director Daniel J. Nova purchased 45,191 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $0.97 per share, with a total value of $43,835.27. Following the completion of the transaction, the director now owns 54,112 shares of the company's stock, valued at $52,488.64. The trade was a 506.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ThredUp Stock Up 9.8 %

Shares of NASDAQ TDUP traded up $0.09 during trading hours on Monday, hitting $1.01. 1,547,353 shares of the stock were exchanged, compared to its average volume of 671,822. The company has a market cap of $111.36 million, a PE ratio of -1.64 and a beta of 0.75. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $2.60. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $0.81 and a 200-day moving average price of $1.32.

Institutional Trading of ThredUp

Several hedge funds and other institutional investors have recently made changes to their positions in TDUP. SG Americas Securities LLC increased its position in ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company's stock valued at $29,000 after buying an additional 15,850 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of ThredUp during the second quarter worth about $37,000. Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp during the second quarter valued at about $43,000. Price T Rowe Associates Inc. MD raised its position in shares of ThredUp by 33.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company's stock valued at $45,000 after purchasing an additional 5,635 shares during the last quarter. Finally, Diversified Trust Co grew its position in ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company's stock worth $48,000 after purchasing an additional 15,175 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TDUP shares. Wells Fargo & Company decreased their price objective on shares of ThredUp from $5.00 to $3.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Telsey Advisory Group reiterated an "outperform" rating and set a $3.00 target price on shares of ThredUp in a report on Tuesday, October 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of ThredUp in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $3.40.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.