ThredUp (NASDAQ:TDUP) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of ThredUp (NASDAQ:TDUP - Free Report) in a research report sent to investors on Monday,Benzinga reports. Telsey Advisory Group currently has a $3.00 price target on the stock.

Separately, Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a report on Friday, February 14th.

ThredUp Price Performance

TDUP remained flat at $2.56 during mid-day trading on Monday. 425,162 shares of the company's stock were exchanged, compared to its average volume of 1,213,968. The stock's 50-day moving average is $1.99 and its two-hundred day moving average is $1.32. The firm has a market cap of $291.23 million, a PE ratio of -4.00 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 1-year low of $0.50 and a 1-year high of $2.99.

Insiders Place Their Bets

In other ThredUp news, Director Daniel J. Nova purchased 24,897 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $36,598.59. Following the purchase, the director now directly owns 303,930 shares of the company's stock, valued at $446,777.10. This trade represents a 8.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Nakache sold 60,274 shares of ThredUp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $2.71, for a total transaction of $163,342.54. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at approximately $680,090.76. This represents a 19.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,794,812 shares of company stock worth $6,477,408. Company insiders own 34.42% of the company's stock.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC boosted its holdings in shares of ThredUp by 2.7% in 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. FIL Ltd grew its stake in shares of ThredUp by 0.8% during the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after acquiring an additional 27,000 shares during the last quarter. Geode Capital Management LLC increased its stake in ThredUp by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock valued at $2,663,000 after purchasing an additional 26,326 shares in the last quarter. Marshall Wace LLP increased its position in shares of ThredUp by 134.5% in the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after acquiring an additional 872,357 shares during the period. Finally, State Street Corp raised its stake 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 worth $1,215,000 after purchasing an additional 12,984 shares during the last quarter. 89.08% of the stock is 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.