ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova Purchases 45,897 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova acquired 45,897 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $1.00 per share, with a total value of $45,897.00. Following the completion of the purchase, the director now owns 124,142 shares of the company’s stock, valued at $124,142. This trade represents a 58.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ThredUp Stock Up 10.9 %

Shares of ThredUp stock opened at $1.12 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $2.60. The business has a 50-day moving average of $0.82 and a 200-day moving average of $1.31. The company has a market capitalization of $127.41 million, a PE ratio of -1.75 and a beta of 0.75.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its stake in ThredUp by 1.5% during the 1st quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock valued at $17,415,000 after acquiring an additional 127,600 shares during the last quarter. Needham Investment Management LLC increased its holdings in ThredUp by 7.2% in the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after buying an additional 415,000 shares during the last quarter. Bares Capital Management Inc. raised its stake in ThredUp by 11.4% during the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after buying an additional 362,221 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ThredUp by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock valued at $1,591,000 after acquiring an additional 74,334 shares in the last quarter. Finally, State Street Corp lifted its stake 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 purchasing an additional 12,984 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.