Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Acquires 30,000 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $1.67 per share, for a total transaction of $50,100.00. Following the acquisition, the director now owns 244,033 shares in the company, valued at $407,535.11. This trade represents a 14.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ThredUp Price Performance

Shares of NASDAQ:TDUP traded down $0.01 during midday trading on Tuesday, reaching $1.59. 104,393 shares of the company’s stock traded hands, compared to its average volume of 677,909. The company has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $1.29. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $2.60. The company has a market cap of $180.88 million, a P/E ratio of -2.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Blair William & Co. IL increased its stake 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 worth $1,550,000 after purchasing an additional 674,852 shares in the last quarter. BloombergSen Inc. purchased a new stake in ThredUp during the 2nd quarter worth 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 acquiring an additional 15,850 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of ThredUp in the first quarter valued at approximately $328,000. Finally, Sei Investments Co. acquired a new stake in shares of ThredUp in the second quarter worth approximately $37,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.