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

Needham & Company LLC reiterated their hold rating on shares of ThredUp (NASDAQ:TDUP) in a research report report published on Friday morning,Benzinga reports.

Separately, Telsey Advisory Group upped their price target on shares of ThredUp from $2.00 to $3.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th.

ThredUp Stock Performance

Shares of TDUP stock opened at $2.66 on Friday. The stock has a market capitalization of $302.60 million, a P/E ratio of -4.16 and a beta of 1.75. 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 firm’s 50 day moving average is $1.88 and its 200 day moving average is $1.27. ThredUp has a 12 month low of $0.50 and a 12 month high of $2.75.

Insiders Place Their Bets

In other news, Director Daniel J. Nova bought 30,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $1.21 per share, for a total transaction of $36,300.00. Following the purchase, the director now directly owns 154,142 shares of the company’s stock, valued at $186,511.82. This trade represents a 24.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia Nakache sold 86,777 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $2.51, for a total transaction of $217,810.27. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at $629,899.56. This represents a 25.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 114,788 shares of company stock worth $166,341 and have sold 2,384,338 shares worth $5,315,309. Corporate insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of institutional investors have recently made changes to their positions in the stock. Needham Investment Management LLC increased its holdings in shares of ThredUp by 7.2% in the 3rd 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 last quarter. FIL Ltd increased its holdings in shares of ThredUp by 0.8% in the 4th quarter. FIL Ltd now owns 3,400,000 shares of the company’s stock worth $4,726,000 after buying an additional 27,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ThredUp by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company’s stock worth $2,663,000 after buying an additional 26,326 shares during the last quarter. Marshall Wace LLP increased its holdings 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 worth $2,114,000 after buying an additional 872,357 shares during the last quarter. Finally, 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 buying an additional 12,984 shares during the last quarter. 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.