Needham & Company LLC Reaffirms Hold Rating for ThredUp (NASDAQ:TDUP)

Needham & Company LLC reissued their hold rating on shares of ThredUp (NASDAQ:TDUP - Free Report) in a report released on Wednesday morning, Marketbeat.com reports.

A number of other research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their target price on ThredUp from $5.00 to $3.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Telsey Advisory Group restated an "outperform" rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $3.33.

ThredUp Trading Down 3.1 %

TDUP traded down $0.02 during midday trading on Wednesday, hitting $0.68. The company's stock had a trading volume of 263,820 shares, compared to its average volume of 580,384. ThredUp has a 52-week low of $0.61 and a 52-week high of $3.80. The firm has a 50-day moving average price of $0.82 and a two-hundred day moving average price of $1.43. The company has a current ratio of 1.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. The firm has a market cap of $75.36 million, a P/E ratio of -1.07 and a beta of 0.71.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The company had revenue of $79.76 million during the quarter, compared to analysts' expectations of $82.58 million. ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. On average, research analysts anticipate that ThredUp will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 45,465 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $2.06, for a total value of $93,657.90. Following the completion of the sale, the director now owns 250,956 shares of the company's stock, valued at $516,969.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Patricia Nakache sold 45,465 shares of the business's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $2.06, for a total transaction of $93,657.90. Following the transaction, the director now directly owns 250,956 shares of the company's stock, valued at approximately $516,969.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Noam Paransky purchased 40,008 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the acquisition, the director now owns 586,452 shares in the company, valued at approximately $475,026.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 385,008 shares of company stock worth $308,906 over the last quarter. 34.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TDUP. SG Americas Securities LLC increased its holdings in ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company's stock worth $29,000 after purchasing an additional 15,850 shares during the last quarter. Sei Investments Co. bought a new stake in shares of ThredUp in the second quarter worth $37,000. Cubist Systematic Strategies LLC bought a new stake in shares of ThredUp in the second quarter worth $43,000. Price T Rowe Associates Inc. MD raised its holdings in ThredUp by 33.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company's stock valued at $45,000 after acquiring an additional 5,635 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company's stock valued at $48,000 after acquiring an additional 15,175 shares during the last quarter. Institutional investors and hedge funds 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.