Telsey Advisory Group Reiterates “Outperform” Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reiterated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research note issued to investors on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $3.00 target price on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Tuesday.

ThredUp Stock Performance

NASDAQ:TDUP opened at $2.39 on Tuesday. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $1.41. ThredUp has a 1-year low of $0.50 and a 1-year high of $2.99. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $271.88 million, a P/E ratio of -3.73 and a beta of 1.75.

Insider Buying and Selling at ThredUp

In other news, Director Patricia Nakache sold 625,498 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the completion of the transaction, the director now directly owns 250,956 shares in the company, valued at $489,364.20. This trade represents a 71.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,735,211 shares of company stock worth $6,371,366. Insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of ThredUp by 49.0% in the 4th 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 period. Virtu Financial LLC bought a new position in ThredUp during the fourth quarter worth $33,000. Cubist Systematic Strategies LLC acquired a new position in ThredUp in the fourth quarter valued at $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ThredUp by 9.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock valued at $63,000 after buying an additional 3,908 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in ThredUp during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.