ThredUp Target of Unusually High Options Trading (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) was the target of unusually large options trading on Monday. Traders acquired 2,603 call options on the stock. This is an increase of approximately 1,517% compared to the typical daily volume of 161 call options.

ThredUp Stock Performance

NASDAQ TDUP traded up $0.01 on Monday, hitting $1.75. 1,307 shares of the company traded hands, compared to its average volume of 681,462. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.60. 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 company has a market capitalization of $199.08 million, a price-to-earnings ratio of -2.72 and a beta of 1.59. The business’s 50 day moving average price is $1.00 and its 200-day moving average price is $1.27.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 54,801 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $1.78, for a total value of $97,545.78. Following the sale, the director now directly owns 247 shares in the company, valued at $439.66. The trade was a 99.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Nova bought 45,191 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $0.97 per share, for a total transaction of $43,835.27. Following the completion of the purchase, the director now owns 54,112 shares of the company’s stock, valued at approximately $52,488.64. This trade represents a 506.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 254,805 shares of company stock valued at $297,311 and have sold 59,601 shares valued at $106,042. Insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of TDUP. SG Americas Securities LLC increased its stake in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the period. Sei Investments Co. purchased a new position in ThredUp during the 2nd quarter valued at about $37,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp in the 2nd quarter worth approximately $43,000. Price T Rowe Associates Inc. MD lifted its position in shares of ThredUp by 33.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after purchasing an additional 5,635 shares during the period. Finally, Diversified Trust Co raised its stake in shares of ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after acquiring an additional 15,175 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TDUP has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and a consensus price target 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.