ThredUp Inc. (NASDAQ:TDUP) Short Interest Down 13.3% in February

ThredUp Inc. (NASDAQ:TDUP) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 13.3% from the February 13th total of 4,200,000 shares. Based on an average trading volume of 921,800 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Price Performance

Shares of TDUP opened at $2.45 on Thursday. The company has a market cap of $284.68 million, a price-to-earnings ratio of -3.83 and a beta of 1.73. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.99. 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 company has a 50 day moving average of $2.33 and a two-hundred day moving average of $1.52.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 625,498 shares of ThredUp stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at $489,364.20. This trade represents a 71.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,693,535 shares of company stock valued at $6,297,600. 34.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ThredUp

Several institutional investors and hedge funds have recently made changes to their positions in TDUP. Needham Investment Management LLC lifted its stake in shares of ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after buying an additional 415,000 shares during the period. 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 worth $1,215,000 after buying an additional 12,984 shares during the period. Barclays PLC lifted its stake in shares of ThredUp by 278.7% during the third 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. Geode Capital Management LLC lifted its stake in shares of ThredUp by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after buying an additional 74,334 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ThredUp during the fourth quarter worth $348,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.