ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova Acquires 30,000 Shares

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 30,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $1.67 per share, with a total value of $50,100.00. Following the purchase, the director now directly owns 244,033 shares of the company’s stock, valued at approximately $407,535.11. This represents a 14.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ThredUp Stock Down 5.0 %

Shares of ThredUp stock opened at $1.52 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a 52-week low of $0.50 and a 52-week high of $2.60. The company has a 50-day simple moving average of $0.87 and a two-hundred day simple moving average of $1.29.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Blair William & Co. IL raised its holdings in shares of ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after purchasing an additional 674,852 shares during the last quarter. BloombergSen Inc. purchased a new position in shares of ThredUp during the second quarter valued at approximately $131,000. SG Americas Securities LLC raised its holdings in shares of ThredUp by 84.8% during 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 last quarter. PEAK6 Investments LLC purchased a new position in shares of ThredUp during the first quarter valued at approximately $328,000. Finally, Sei Investments Co. purchased a new position in shares of ThredUp during the second quarter valued at approximately $37,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.