ThredUp’s (TDUP) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of ThredUp (NASDAQ:TDUP) in a report published on Tuesday morning,Benzinga reports.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research note on Tuesday, October 29th.

ThredUp Stock Down 4.0 %

Shares of NASDAQ TDUP opened at $2.17 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $1.43 and a 200 day moving average price of $1.20. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.42. The stock has a market capitalization of $246.86 million, a price-to-earnings ratio of -3.39 and a beta of 1.66.

Insider Buying and Selling at ThredUp

In other ThredUp 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 transaction of $73,766.52. Following the sale, the director now owns 250,956 shares in the company, valued at approximately $444,192.12. This represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Nova purchased 45,897 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $1.00 per share, with a total value of $45,897.00. Following the completion of the acquisition, the director now owns 124,142 shares of the company’s stock, valued at approximately $124,142. The trade was a 58.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 214,797 shares of company stock valued at $264,905 and have sold 922,112 shares valued at $1,840,991. Insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Blair William & Co. IL lifted its holdings in ThredUp by 285.0% in the 2nd 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 in the last quarter. SG Americas Securities LLC raised its position in shares of 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 buying an additional 15,850 shares during the last quarter. State Street Corp lifted its stake in shares of ThredUp by 0.9% during the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after buying an additional 12,984 shares during the period. Sei Investments Co. acquired a new stake in ThredUp during the second quarter worth approximately $37,000. Finally, Bank of New York Mellon Corp grew its stake in ThredUp by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after acquiring an additional 20,933 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.