ThredUp Inc. (NASDAQ:TDUP) Director Acquires $31,600.00 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Noam Paransky bought 40,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $0.79 per share, for a total transaction of $31,600.00. Following the completion of the transaction, the director now directly owns 546,444 shares in the company, valued at approximately $431,690.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Noam Paransky also recently made the following trade(s):

• On Wednesday, September 4th, Noam Paransky acquired 180,000 shares of ThredUp stock. The stock was bought at an average price of $0.81 per share, with a total value of $145,800.00.

ThredUp Trading Down 2.8 %

Shares of TDUP opened at $0.82 on Thursday. ThredUp Inc. has a 1-year low of $0.61 and a 1-year high of $4.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $1.29 and a 200-day simple moving average of $1.66. The stock has a market cap of $90.65 million, a price-to-earnings ratio of -1.28 and a beta of 0.72.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. The company had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $82.58 million. During the same period in the previous year, the business posted ($0.18) EPS. Equities analysts forecast that ThredUp Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TDUP shares. Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research report on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Creekside Partners acquired a new stake in shares of ThredUp during the 2nd quarter worth about $51,000. Squarepoint Ops LLC lifted its stake in shares of ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock valued at $684,000 after buying an additional 169,196 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in ThredUp during the second quarter worth approximately $43,000. Marshall Wace LLP grew its stake in ThredUp by 37.4% in the 2nd quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after acquiring an additional 209,792 shares during the period. Finally, Sei Investments Co. purchased a new stake in ThredUp in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.