Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Acquires 29,891 Shares of Stock

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

ThredUp Stock Up 3.2 %

ThredUp stock opened at $1.60 on Tuesday. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $2.60. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $0.86 and a 200-day moving average of $1.29. The stock has a market capitalization of $182.02 million, a PE ratio of -2.50 and a beta of 0.75.

Hedge Funds Weigh In On ThredUp

A number of large investors have recently added to or reduced their stakes in TDUP. Price T Rowe Associates Inc. MD grew its holdings in shares of ThredUp by 33.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after buying an additional 5,635 shares in the last quarter. Rhumbline Advisers grew its position in ThredUp by 6.5% in the second quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock valued at $179,000 after purchasing an additional 6,421 shares in the last quarter. State Street Corp increased its stake 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 last quarter. Diversified Trust Co increased its stake in ThredUp by 117.3% in the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock valued at $48,000 after buying an additional 15,175 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.