ThredUp Inc. (NASDAQ:TDUP - Get Free Report) Director Ian Friedman bought 10,000 shares of the stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $1.34 per share, with a total value of $13,400.00. Following the purchase, the director owned 471,661 shares in the company, valued at $632,025.74. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
ThredUp Trading Up 6.2%
NASDAQ TDUP opened at $1.36 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. ThredUp Inc. has a twelve month low of $1.24 and a twelve month high of $8.76. The firm has a market capitalization of $179.27 million, a PE ratio of -7.58 and a beta of 2.18. The stock's 50 day moving average is $2.27 and its 200 day moving average is $4.05.
ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $88.23 million for the quarter, compared to analysts' expectations of $88.05 million. ThredUp had a negative return on equity of 39.23% and a negative net margin of 6.89%. Research analysts forecast that ThredUp Inc. will post -0.17 earnings per share for the current fiscal year.
Institutional Trading of ThredUp
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Readystate Asset Management LP raised its stake in ThredUp by 197.4% during the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company's stock valued at $10,335,000 after buying an additional 1,001,482 shares during the last quarter. Empowered Funds LLC bought a new stake in ThredUp in the first quarter worth $1,338,000. Zweig DiMenna Associates LLC boosted its holdings in ThredUp by 170.1% in the first quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company's stock worth $4,771,000 after acquiring an additional 916,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of ThredUp by 19.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company's stock worth $9,727,000 after acquiring an additional 473,907 shares during the last quarter. Finally, CI Investments Inc. purchased a new stake in shares of ThredUp in the first quarter worth $5,937,000. Hedge funds and other institutional investors own 89.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on TDUP. Telsey Advisory Group dropped their target price on shares of ThredUp from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Northland Securities lowered shares of ThredUp from an "outperform" rating to a "market perform" rating and set a $2.00 price target for the company. in a research note on Thursday, November 5th. William Blair cut shares of ThredUp from an "outperform" rating to a "market perform" rating in a research report on Thursday. Wall Street Zen lowered shares of ThredUp from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, TD Cowen assumed coverage on shares of ThredUp in a research note on Friday, October 30th. They set a "strong-buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.64.
Read Our Latest Stock Analysis on TDUP
About ThredUp
(
Get Free Report)
ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women's and children's clothing and related products, while individuals can send in unwanted items for resale through the company's “Clean Out” service.
ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.
Founded in 2009, ThredUp initially focused on children's clothing before expanding into women's apparel and broader fashion categories.
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