Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Buys 45,897 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) Director Daniel J. Nova purchased 45,897 shares of ThredUp stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $1.00 per share, with a total value of $45,897.00. Following the completion of the purchase, the director now owns 124,142 shares in the company, valued at approximately $124,142. This trade represents a 58.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

ThredUp Stock Up 10.9 %

Shares of TDUP traded up $0.11 during trading hours on Tuesday, reaching $1.12. The company's stock had a trading volume of 707,787 shares, compared to its average volume of 671,990. The company has a 50 day moving average of $0.81 and a two-hundred day moving average of $1.31. 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 market cap of $127.41 million, a price-to-earnings ratio of -1.76 and a beta of 0.75. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $2.60.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company's stock worth $29,000 after acquiring an additional 15,850 shares in the last quarter. Sei Investments Co. bought a new stake in ThredUp in the second quarter worth $37,000. Cubist Systematic Strategies LLC acquired a new position in ThredUp during the second quarter worth $43,000. Price T Rowe Associates Inc. MD raised its holdings in ThredUp by 33.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company's stock valued at $45,000 after buying an additional 5,635 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of ThredUp by 117.3% in the second quarter. Diversified Trust Co now owns 28,111 shares of the company's stock worth $48,000 after buying an additional 15,175 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

About ThredUp

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.