Telsey Advisory Group Reiterates Outperform Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reissued their outperform rating on shares of ThredUp (NASDAQ:TDUP - Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $3.00 target price on the stock.

Several other brokerages also recently issued reports on TDUP. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Wednesday, October 23rd. Wells Fargo & Company decreased their price target 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3.33.

ThredUp Trading Down 7.0 %

NASDAQ TDUP traded down $0.05 during trading on Tuesday, hitting $0.66. The stock had a trading volume of 602,467 shares, compared to its average volume of 577,508. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06. The stock has a market capitalization of $73.14 million, a price-to-earnings ratio of -1.21 and a beta of 0.71. ThredUp has a one year low of $0.61 and a one year high of $3.80. The stock has a 50 day simple moving average of $0.82 and a 200 day simple moving average of $1.40.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $79.76 million during the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period in the previous year, the business earned ($0.18) EPS. Sell-side analysts predict that ThredUp will post -0.55 earnings per share for the current year.

Insider Activity at ThredUp

In other ThredUp news, Director Noam Paransky acquired 180,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $0.81 per share, with a total value of $145,800.00. Following the completion of the acquisition, the director now directly owns 426,444 shares in the company, valued at $345,419.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Noam Paranksy acquired 90,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the purchase, the director now owns 246,444 shares of the company's stock, valued at approximately $197,155.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Noam Paransky acquired 180,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $0.81 per share, with a total value of $145,800.00. Following the completion of the purchase, the director now directly owns 426,444 shares of the company's stock, valued at approximately $345,419.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 385,008 shares of company stock valued at $308,906 over the last ninety days. 34.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On ThredUp

Several institutional investors and hedge funds have recently made changes to their positions in TDUP. Capital World Investors lifted its position in ThredUp by 1.5% during the first quarter. Capital World Investors now owns 8,707,600 shares of the company's stock valued at $17,415,000 after purchasing an additional 127,600 shares during the period. Bares Capital Management Inc. lifted its position in ThredUp by 11.4% during the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company's stock valued at $7,098,000 after purchasing an additional 362,221 shares during the period. Acadian Asset Management LLC lifted its position in ThredUp by 22.8% during the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company's stock valued at $2,303,000 after purchasing an additional 251,629 shares during the period. Blair William & Co. IL lifted its position in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company's stock valued at $1,550,000 after purchasing an additional 674,852 shares during the period. Finally, Marshall Wace LLP lifted its position in ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company's stock valued at $1,312,000 after purchasing an additional 209,792 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.