Ian Friedman Purchases 6,810 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman bought 6,810 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $2.20 per share, with a total value of $14,982.00. Following the transaction, the director now directly owns 367,558 shares of the company’s stock, valued at approximately $808,627.60. This trade represents a 1.89 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ThredUp Stock Performance

ThredUp stock opened at $2.23 on Wednesday. The company has a 50 day moving average price of $2.30 and a 200-day moving average price of $1.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.99. The company has a market capitalization of $259.11 million, a PE ratio of -3.48 and a beta of 1.73.

Analyst Ratings Changes

Several research analysts have issued reports on TDUP shares. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group restated an “outperform” rating and set a $3.00 target price on shares of ThredUp in a research report on Tuesday, March 4th.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Needham Investment Management LLC raised its stake in shares of ThredUp by 2.7% during the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock valued at $8,851,000 after acquiring an additional 167,500 shares in the last quarter. FIL Ltd raised its stake in ThredUp by 0.8% in the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company’s stock worth $4,726,000 after buying an additional 27,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ThredUp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company’s stock worth $2,663,000 after buying an additional 26,326 shares during the period. Marshall Wace LLP lifted its holdings in ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock worth $2,114,000 after buying an additional 872,357 shares during the period. Finally, State Street Corp lifted its holdings in ThredUp by 0.9% during the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after buying an additional 12,984 shares during the period. Institutional investors own 89.08% of the company’s stock.

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.