ThredUp (NASDAQ:TDUP) Earns Outperform Rating from Telsey Advisory Group

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They presently have a $3.00 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 22.95% from the stock’s current price.

Separately, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Tuesday.

ThredUp Stock Performance

NASDAQ:TDUP opened at $2.44 on Tuesday. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $1.42. 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 $277.57 million, a P/E ratio of -3.81 and a beta of 1.75. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.99.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 625,498 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the completion of the transaction, the director now owns 250,956 shares in the company, valued at $489,364.20. The trade was a 71.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 2,735,211 shares of company stock worth $6,371,366. Corporate insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in shares of ThredUp by 49.0% in the 4th 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 in the last quarter. Virtu Financial LLC purchased a new position in ThredUp during the 4th quarter worth $33,000. Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp during the 4th quarter worth $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ThredUp by 9.4% during the 4th 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 period. Finally, O Shaughnessy Asset Management LLC acquired a new stake in ThredUp in the 4th quarter valued at about $64,000. Institutional investors and hedge funds 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.