Stock Traders Purchase Large Volume of Call Options on ThredUp (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) was the target of unusually large options trading activity on Monday. Traders acquired 2,603 call options on the stock. This is an increase of approximately 1,517% compared to the typical daily volume of 161 call options.

ThredUp Stock Up 1.7 %

ThredUp stock opened at $1.77 on Tuesday. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.60. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $1.00 and a 200-day moving average of $1.27. The stock has a market capitalization of $201.36 million, a PE ratio of -2.77 and a beta of 1.59.

Insider Transactions at ThredUp

In other news, Director Daniel J. Nova acquired 24,897 shares of ThredUp stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $1.47 per share, with a total value of $36,598.59. Following the acquisition, the director now owns 303,930 shares in the company, valued at $446,777.10. This represents a 8.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Nakache sold 54,801 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.78, for a total value of $97,545.78. Following the transaction, the director now directly owns 247 shares in the company, valued at $439.66. This trade represents a 99.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 254,805 shares of company stock valued at $297,311 and have sold 59,601 shares valued at $106,042. 34.42% of the stock is owned by insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blair William & Co. IL raised its holdings in shares of ThredUp by 285.0% in the second 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. BloombergSen Inc. acquired a new stake in ThredUp in the 2nd quarter valued at $131,000. SG Americas Securities LLC lifted its position in 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 buying an additional 15,850 shares in the last quarter. Sei Investments Co. acquired a new position in shares of ThredUp during the 2nd quarter worth about $37,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of ThredUp by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after acquiring an additional 20,933 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDUP has been the topic of several analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, ThredUp has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

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.