ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman Purchases 6,810 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman purchased 6,810 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $2.20 per share, with a total value of $14,982.00. Following the completion of the acquisition, the director now directly owns 367,558 shares of the company’s stock, valued at $808,627.60. This represents a 1.89 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ThredUp Price Performance

TDUP stock opened at $2.37 on Tuesday. The company has a market capitalization of $275.38 million, a P/E ratio of -3.70 and a beta of 1.73. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $2.99. The business has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $1.51. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Institutional Investors Weigh In On ThredUp

Large investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of ThredUp during the fourth quarter worth approximately $33,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp during the fourth quarter worth approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of ThredUp during the fourth quarter worth approximately $64,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Tuesday, March 4th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday, March 4th.

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.