Needham & Company LLC Reiterates “Hold” Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research note on Monday, February 24th.

ThredUp Trading Up 2.1 %

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

Insider Transactions at ThredUp

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

Institutional Trading of ThredUp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its holdings in shares of ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock valued at $2,114,000 after buying an additional 872,357 shares in the last quarter. BloombergSen Inc. raised its position in shares of ThredUp by 278.9% in the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company’s stock valued at $889,000 after purchasing an additional 470,768 shares during the period. Renaissance Technologies LLC lifted its position in ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock worth $1,360,000 after acquiring an additional 420,012 shares during the last quarter. Needham Investment Management LLC grew its holdings in ThredUp by 7.2% in the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after buying an additional 415,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in ThredUp during the fourth quarter worth $521,000. Institutional investors and hedge funds 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.