Telsey Advisory Group Issues Positive Forecast for ThredUp (NASDAQ:TDUP) Stock Price

ThredUp (NASDAQ:TDUP) had its price objective upped by Telsey Advisory Group from $2.00 to $3.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price suggests a potential upside of 58.73% from the stock’s current price.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Tuesday.

ThredUp Stock Up 45.4 %

TDUP opened at $1.89 on Wednesday. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $2.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The firm’s fifty day moving average price is $1.40 and its two-hundred day moving average price is $1.20. The company has a market capitalization of $215.00 million, a P/E ratio of -2.95 and a beta of 1.66.

Insider Buying and Selling at ThredUp

In related news, Director Daniel J. Nova acquired 45,897 shares of the business’s stock in a transaction on 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 in the company, valued at $124,142. The trade was a 58.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patricia Nakache sold 41,676 shares of ThredUp stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $1.77, for a total value of $73,766.52. Following the completion of the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at $444,192.12. This represents a 14.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 214,797 shares of company stock valued at $264,905 and sold 101,277 shares valued at $179,808. Company insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blair William & Co. IL raised its holdings in shares of ThredUp by 285.0% in the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after buying an additional 674,852 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 raised its holdings in ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after purchasing an additional 12,984 shares during the last quarter. Sei Investments Co. bought a new stake in ThredUp during the 2nd quarter worth about $37,000. Finally, Bank of New York Mellon Corp raised its holdings in ThredUp by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after purchasing an additional 20,933 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

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.