ThredUp’s (TDUP) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of ThredUp (NASDAQ:TDUP) 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 reaffirmed a “hold” rating on shares of ThredUp in a research report on Friday, February 14th.

ThredUp Stock Performance

Shares of TDUP stock opened at $2.56 on Monday. ThredUp has a 12-month low of $0.50 and a 12-month high of $2.99. The business’s fifty day simple moving average is $2.01 and its 200-day simple moving average is $1.34. 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 cap of $291.23 million, a PE ratio of -4.00 and a beta of 1.75.

Insiders Place Their Bets

In other news, Director Daniel J. Nova purchased 24,897 shares of the stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $1.47 per share, with a total value of $36,598.59. Following the transaction, the director now owns 303,930 shares in the company, valued at $446,777.10. The trade was a 8.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Nakache sold 60,274 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $2.71, for a total value of $163,342.54. Following the sale, the director now owns 250,956 shares in the company, valued at approximately $680,090.76. The trade was a 19.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,794,812 shares of company stock valued at $6,477,408. Insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC boosted its position in ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock valued at $31,000 after buying an additional 7,287 shares during the last quarter. Virtu Financial LLC acquired a new stake in ThredUp during the 4th quarter valued at approximately $33,000. SG Americas Securities LLC boosted its holdings in shares of ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after acquiring an additional 15,850 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp in the fourth quarter worth $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ThredUp by 9.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock worth $63,000 after purchasing an additional 3,908 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.