ThredUp (NASDAQ:TDUP) Price Target Raised to $3.00

ThredUp (NASDAQ:TDUP - Get Free Report) had its price target lifted by research analysts at Telsey Advisory Group from $2.00 to $3.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an "outperform" rating on the stock. Telsey Advisory Group's target price points to a potential upside of 31.29% from the company's previous close.

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday.

ThredUp Stock Performance

TDUP traded up $0.40 on Wednesday, reaching $2.29. The stock had a trading volume of 3,403,500 shares, compared to its average volume of 2,112,645. The business's 50-day moving average price is $1.40 and its two-hundred day moving average price is $1.20. The company has a market cap of $259.94 million, a P/E ratio of -3.57 and a beta of 1.66. ThredUp has a 12-month low of $0.50 and a 12-month high of $2.42. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Transactions at ThredUp

In other ThredUp news, Director Patricia Nakache sold 41,676 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $1.77, for a total transaction of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares in the company, valued at approximately $444,192.12. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Nova bought 24,897 shares of ThredUp stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $1.47 per share, with a total value of $36,598.59. Following the acquisition, the director now directly owns 303,930 shares of the company's stock, valued at approximately $446,777.10. The trade was a 8.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 214,797 shares of company stock valued at $264,905 and sold 101,277 shares valued at $179,808. Corporate insiders own 34.42% of the company's stock.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently modified their holdings of the business. Blair William & Co. IL boosted 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 worth $1,550,000 after acquiring an additional 674,852 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of 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. State Street Corp grew its position in shares of ThredUp by 0.9% in the third quarter. State Street Corp now owns 1,443,177 shares of the company's stock valued at $1,215,000 after purchasing an additional 12,984 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of ThredUp in the second quarter valued at approximately $37,000. Finally, Bank of New York Mellon Corp lifted its position in ThredUp by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company's stock worth $467,000 after buying an additional 20,933 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

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.