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

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 4,890,000 shares, an increase of 23.2% from the December 15th total of 3,970,000 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 841,500 shares, the days-to-cover ratio is currently 5.8 days.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 41,676 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $1.77, for a total value of $73,766.52. Following the sale, the director now owns 250,956 shares in the company, valued at approximately $444,192.12. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Nova acquired 45,897 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $1.00 per share, with a total value of $45,897.00. Following the purchase, the director now directly owns 124,142 shares of the company’s stock, valued at $124,142. This trade represents a 58.66 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 214,797 shares of company stock valued at $264,905 and have sold 101,277 shares valued at $179,808. 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. Sei Investments Co. purchased a new position in shares of ThredUp in the second quarter worth $37,000. Cubist Systematic Strategies LLC purchased a new position in shares of ThredUp in the second quarter valued at about $43,000. Creekside Partners bought a new position in shares of ThredUp during the second quarter valued at about $51,000. SG Americas Securities LLC lifted its holdings in ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares during the period. Finally, Barclays PLC lifted its holdings in ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after buying an additional 76,553 shares during the period. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TDUP has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Tuesday. Telsey Advisory Group lifted their target price on shares of ThredUp from $2.00 to $3.00 and gave the company an “outperform” rating in a research report on Wednesday.

ThredUp Trading Down 3.8 %

Shares of NASDAQ TDUP traded down $0.09 during midday trading on Thursday, reaching $2.18. The company had a trading volume of 1,564,411 shares, compared to its average volume of 2,089,816. The firm’s fifty day moving average price is $1.43 and its 200-day moving average price is $1.20. 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 has a one year low of $0.50 and a one year high of $2.42. The stock has a market cap of $247.43 million, a PE ratio of -3.40 and a beta of 1.66.

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.