Short Interest in ThredUp Inc. (NASDAQ:TDUP) Grows By 23.2%

ThredUp Inc. (NASDAQ:TDUP) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,890,000 shares, a growth of 23.2% from the December 15th total of 3,970,000 shares. Approximately 6.0% of the company’s stock are sold short. Based on an average daily volume of 841,500 shares, the short-interest ratio is currently 5.8 days.

Analyst Ratings Changes

A number of brokerages have weighed in on TDUP. Telsey Advisory Group boosted their price objective on ThredUp from $2.00 to $3.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Tuesday.

Insider Buying and Selling at ThredUp

In related news, Director Daniel J. Nova purchased 45,191 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $0.97 per share, for a total transaction of $43,835.27. Following the purchase, the director now directly owns 54,112 shares of the company’s stock, valued at $52,488.64. The trade was a 506.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Nakache sold 41,676 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $1.77, for a total transaction of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $444,192.12. This trade represents a 14.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 214,797 shares of company stock worth $264,905 and have sold 922,112 shares worth $1,840,991. 34.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after purchasing an additional 15,850 shares during the period. Sei Investments Co. purchased a new position in shares of ThredUp during the 2nd quarter worth approximately $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp in the 2nd quarter valued at approximately $43,000. Creekside Partners purchased a new stake in shares of ThredUp in the second quarter valued at approximately $51,000. Finally, Barclays PLC grew its holdings in ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after acquiring an additional 76,553 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Performance

Shares of TDUP opened at $2.17 on Friday. The stock has a market capitalization of $246.86 million, a P/E ratio of -3.39 and a beta of 1.66. 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 has a 1 year low of $0.50 and a 1 year high of $2.42. The company’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.21.

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.