Brokerages Set ThredUp Inc. (NASDAQ:TDUP) Price Target at $3.33

ThredUp Inc. (NASDAQ:TDUP) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.33.

TDUP has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research report on Tuesday, August 6th.

Insider Transactions at ThredUp

In other ThredUp news, Director Noam Paranksy purchased 90,000 shares of ThredUp stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $0.80 per share, with a total value of $72,000.00. Following the completion of the transaction, the director now owns 246,444 shares of the company’s stock, valued at $197,155.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Noam Paranksy bought 90,000 shares of ThredUp stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of $0.80 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now directly owns 246,444 shares in the company, valued at $197,155.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Noam Paransky bought 180,000 shares of ThredUp stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $0.81 per share, for a total transaction of $145,800.00. Following the acquisition, the director now owns 426,444 shares of the company’s stock, valued at $345,419.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 385,008 shares of company stock valued at $308,906. 34.42% of the stock is currently owned by corporate insiders.

Institutional Trading of ThredUp

Hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in 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 acquiring an additional 674,852 shares in the last quarter. BloombergSen Inc. acquired a new stake in ThredUp during the second quarter worth approximately $131,000. PEAK6 Investments LLC acquired a new stake in ThredUp during the first quarter worth approximately $328,000. Bank of New York Mellon Corp raised its holdings in ThredUp by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after purchasing an additional 20,933 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in ThredUp by 22.8% during the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after purchasing an additional 251,629 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Trading Down 4.7 %

Shares of TDUP stock opened at $0.71 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. The firm has a market cap of $77.74 million, a PE ratio of -1.10 and a beta of 0.71. The company has a 50-day moving average of $0.81 and a two-hundred day moving average of $1.43. ThredUp has a 1-year low of $0.61 and a 1-year high of $3.80.

ThredUp (NASDAQ:TDUP) last announced its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period last year, the business earned ($0.18) EPS. On average, analysts predict that ThredUp will post -0.55 EPS for the current year.

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.