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

ThredUp (NASDAQ:TDUP - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Needham & Company LLC in a report released on Friday,Benzinga reports.

Separately, Telsey Advisory Group raised their target price on shares of ThredUp from $2.00 to $3.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th.

ThredUp Price Performance

NASDAQ:TDUP traded up $0.31 during trading hours on Friday, hitting $2.97. The stock had a trading volume of 1,543,848 shares, compared to its average volume of 1,281,520. The company has a 50 day simple moving average of $1.92 and a two-hundred day simple moving average of $1.29. The firm has a market capitalization of $337.87 million, a price-to-earnings ratio of -4.64 and a beta of 1.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp has a one year low of $0.50 and a one year high of $2.99.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 54,801 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.78, for a total transaction of $97,545.78. Following the transaction, the director now owns 247 shares of the company's stock, valued at approximately $439.66. This trade represents a 99.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Nova bought 29,891 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price of $1.45 per share, for a total transaction of $43,341.95. Following the transaction, the director now owns 214,033 shares in the company, valued at $310,347.85. This trade represents a 16.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 114,788 shares of company stock valued at $166,341 and sold 2,384,338 shares valued at $5,315,309. Corporate insiders own 34.42% of the company's stock.

Institutional Trading of ThredUp

Several institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP lifted its stake in shares of ThredUp by 150.1% in the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after acquiring an additional 68,790 shares during the last quarter. Two Sigma Advisers LP increased its stake in ThredUp by 572.8% in the 4th quarter. Two Sigma Advisers LP now owns 109,000 shares of the company's stock worth $152,000 after purchasing an additional 92,800 shares during the period. ProShare Advisors LLC lifted its position in ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock valued at $31,000 after purchasing an additional 7,287 shares during the last quarter. Needham Investment Management LLC boosted its stake in shares of ThredUp by 2.7% during the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock valued at $8,851,000 after purchasing an additional 167,500 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of ThredUp during the fourth quarter valued at approximately $113,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.