Key Points
- ThredUp CFO Sean Sobers sold 45,554 shares at an average price of $4.43, totaling about $201,804. After the sale, he still directly owned 572,523 shares.
- The company said the transaction was made to cover tax withholding obligations tied to vesting equity awards, not necessarily as a change in outlook on the business.
- ThredUp shares were up 1.6% to $4.57, while analysts currently have a Moderate Buy consensus with an average price target of $9.14.
ThredUp Inc. (NASDAQ:TDUP - Get Free Report) CFO Sean Sobers sold 45,554 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the transaction, the chief financial officer directly owned 572,523 shares in the company, valued at approximately $2,536,276.89. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
ThredUp Stock Up 1.6%
Shares of NASDAQ TDUP opened at $4.57 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $589.71 million, a price-to-earnings ratio of -28.56 and a beta of 2.07. The stock has a 50 day moving average price of $4.13 and a 200 day moving average price of $5.20. ThredUp Inc. has a 52-week low of $3.08 and a 52-week high of $12.28.
ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. Sell-side analysts expect that ThredUp Inc. will post -0.09 earnings per share for the current year.
Institutional Investors Weigh In On ThredUp
A number of institutional investors have recently added to or reduced their stakes in TDUP. CI Investments Inc. bought a new position in ThredUp in the first quarter worth about $5,937,000. Woodson Capital Management LP bought a new position in shares of ThredUp during the 4th quarter worth approximately $11,502,000. Arrowstreet Capital Limited Partnership grew its holdings in ThredUp by 263.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company's stock worth $19,432,000 after purchasing an additional 1,491,020 shares during the last quarter. Invesco Ltd. increased its holdings in ThredUp by 3,682.1% in the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company's stock worth $8,504,000 after buying an additional 1,105,332 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in ThredUp during the 3rd quarter worth approximately $9,396,000. Institutional investors own 89.08% of the company's stock.
Analysts Set New Price Targets
Several research firms recently weighed in on TDUP. Wells Fargo & Company decreased their price objective on ThredUp from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, May 5th. TD Cowen increased their target price on shares of ThredUp from $5.00 to $5.70 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings reissued a "sell (e+)" rating on shares of ThredUp in a research report on Friday, March 27th. Finally, Telsey Advisory Group lowered their price target on shares of ThredUp from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.14.
View Our Latest Stock Analysis on TDUP
About ThredUp
(
Get Free Report)
ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.
In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.
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