ThredUp Inc. (NASDAQ:TDUP) Short Interest Down 13.3% in February

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 3,640,000 shares, a decline of 13.3% from the February 13th total of 4,200,000 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 921,800 shares, the short-interest ratio is currently 3.9 days.

ThredUp Price Performance

Shares of TDUP traded up $0.12 during trading hours on Friday, reaching $2.56. The company had a trading volume of 1,491,354 shares, compared to its average volume of 774,827. The firm has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $1.55. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $297.46 million, a price-to-earnings ratio of -4.00 and a beta of 1.73. ThredUp has a 12-month low of $0.50 and a 12-month high of $2.99.

Wall Street Analyst Weigh In

TDUP has been the subject of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Telsey Advisory Group reiterated an "outperform" rating and issued a $3.00 target price on shares of ThredUp in a report on Tuesday, March 4th.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 91,070 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $2.48, for a total transaction of $225,853.60. Following the completion of the sale, the director now owns 250,956 shares of the company's stock, valued at approximately $622,370.88. This represents a 26.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,833,612 shares of company stock valued at $6,633,229 over the last 90 days. Corporate insiders own 34.42% of the company's stock.

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Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Marshall Wace LLP raised its position in ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock worth $2,114,000 after acquiring an additional 872,357 shares during the last quarter. BloombergSen Inc. increased its position in ThredUp by 278.9% during the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after purchasing an additional 470,768 shares during the last quarter. Renaissance Technologies LLC increased its position in ThredUp by 75.2% during the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after purchasing an additional 420,012 shares during the last quarter. Needham Investment Management LLC increased its position in ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company's stock worth $5,220,000 after purchasing an additional 415,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in ThredUp during the fourth quarter worth approximately $521,000. 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.