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

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating restated by Needham & Company LLC in a report released on Tuesday,Benzinga reports.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of ThredUp in a report on Tuesday, October 29th.

ThredUp Stock Performance

NASDAQ TDUP traded up $0.53 during mid-day trading on Tuesday, reaching $1.83. 9,586,283 shares of the stock were exchanged, compared to its average volume of 1,451,906. The business’s 50 day moving average is $1.38 and its 200-day moving average is $1.19. ThredUp has a 1 year low of $0.50 and a 1 year high of $2.42. The company has a market capitalization of $208.18 million, a P/E ratio of -2.86 and a beta of 1.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Insider Buying and Selling at ThredUp

In other ThredUp news, Director Daniel J. Nova bought 45,897 shares of ThredUp stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the transaction, the director now directly owns 124,142 shares of the company’s stock, valued at approximately $124,142. This represents a 58.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Nakache sold 54,801 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1.78, for a total transaction of $97,545.78. Following the completion of the sale, the director now owns 247 shares of the company’s stock, valued at $439.66. This trade represents a 99.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 214,797 shares of company stock valued at $264,905 and have sold 101,277 shares valued at $179,808. Insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC increased its position in ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after purchasing an additional 415,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in ThredUp by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after buying an additional 74,334 shares during the period. State Street Corp boosted its stake in ThredUp by 0.9% during the third 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 period. Blair William & Co. IL boosted its stake in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after buying an additional 674,852 shares during the period. Finally, Marshall Wace LLP boosted its stake in ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after buying an additional 209,792 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.