ThredUp Inc. (NASDAQ:TDUP) Director Buys $43,341.95 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 29,891 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $1.45 per share, with a total value of $43,341.95. Following the acquisition, the director now directly owns 214,033 shares in the company, valued at approximately $310,347.85. The trade was a 16.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ThredUp Price Performance

ThredUp stock opened at $1.52 on Thursday. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The firm has a 50 day moving average price of $0.89 and a 200 day moving average price of $1.29. The company has a market capitalization of $172.92 million, a PE ratio of -2.38 and a beta of 0.75.

Institutional Trading of ThredUp

Several institutional investors have recently added to or reduced their stakes in the stock. Needham Investment Management LLC increased 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 purchasing an additional 415,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in ThredUp by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock valued at $1,591,000 after purchasing an additional 74,334 shares during the last quarter. State Street Corp boosted its position in ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after buying an additional 12,984 shares during the period. Acadian Asset Management LLC boosted its position in ThredUp by 22.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after buying an additional 251,629 shares during the period. Finally, Blair William & Co. IL boosted its position in ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after buying an additional 674,852 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TDUP. Wells Fargo & Company cut their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $3.00 price target on shares of ThredUp in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.40.

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.