ThredUp's (TDUP) Hold Rating Reiterated at Needham & Company LLC

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

Separately, Telsey Advisory Group restated an "outperform" rating and set a $3.00 target price on shares of ThredUp in a research note on Tuesday, October 29th.

ThredUp Stock Up 45.4 %

Shares of TDUP stock traded up $0.59 on Tuesday, hitting $1.89. The stock had a trading volume of 13,484,470 shares, compared to its average volume of 1,952,094. The stock's 50 day moving average is $1.40 and its 200-day moving average is $1.20. The firm has a market capitalization of $215.00 million, a price-to-earnings ratio of -2.95 and a beta of 1.66. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 41,676 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $1.77, for a total value of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at $444,192.12. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, for a total transaction of $36,598.59. Following the acquisition, the director now owns 303,930 shares in the company, valued at $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. In 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. Insiders own 34.42% of the company's stock.

Institutional Trading of ThredUp

Several hedge funds have recently made changes to their positions in the stock. Needham Investment Management LLC increased its position in ThredUp by 7.2% in the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company's stock worth $5,220,000 after buying an additional 415,000 shares during the period. Geode Capital Management LLC grew its position in shares of ThredUp by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company's stock worth $1,591,000 after acquiring an additional 74,334 shares during the last quarter. State Street Corp increased its holdings in shares of ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company's stock worth $1,215,000 after acquiring an additional 12,984 shares during the period. Blair William & Co. IL lifted its position in ThredUp by 285.0% in the 2nd 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 last quarter. Finally, Marshall Wace LLP boosted its stake in ThredUp by 37.4% during the 2nd 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. Institutional investors 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.