Telsey Advisory Group Reaffirms “Outperform” Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reissued their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $3.00 target price on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Friday, February 14th.

ThredUp Price Performance

Shares of ThredUp stock opened at $2.50 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The firm’s 50-day simple moving average is $2.05 and its 200-day simple moving average is $1.36. The firm has a market cap of $284.40 million, a P/E ratio of -3.91 and a beta of 1.75. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.99.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 41,676 shares of ThredUp stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $1.77, for a total value of $73,766.52. Following the completion of the sale, the director now directly owns 250,956 shares in the company, valued at $444,192.12. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 2,794,812 shares of company stock worth $6,477,408. Corporate insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Several large investors have recently bought and sold shares of TDUP. Needham Investment Management LLC grew its position in shares of ThredUp by 2.7% during the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock worth $8,851,000 after buying an additional 167,500 shares during the period. FIL Ltd raised its position in ThredUp by 0.8% in the 4th quarter. FIL Ltd now owns 3,400,000 shares of the company’s stock valued at $4,726,000 after buying an additional 27,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ThredUp by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company’s stock worth $2,663,000 after purchasing an additional 26,326 shares in the last quarter. Marshall Wace LLP lifted its position in ThredUp by 134.5% during the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock worth $2,114,000 after buying an additional 872,357 shares in the last quarter. Finally, State Street Corp boosted its position in 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 purchasing an additional 12,984 shares during the last quarter. 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.