ThredUp (NASDAQ:TDUP) Shares Down 4.6% – Here’s What Happened

by · The Cerbat Gem

ThredUp Inc. (NASDAQ:TDUP – Get Free Report)’s share price traded down 4.6% during mid-day trading on Tuesday . The company traded as low as $7.21 and last traded at $6.9540. 29,954 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,909,026 shares. The stock had previously closed at $7.29.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TDUP shares. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Roth Capital assumed coverage on ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research report on Monday. Telsey Advisory Group reiterated an “outperform” rating and issued a $12.00 price target on shares of ThredUp in a report on Tuesday, December 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Check Out Our Latest Stock Report on TDUP

ThredUp Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average price of $8.00 and a 200 day moving average price of $8.75. The company has a market capitalization of $785.38 million, a P/E ratio of -20.92 and a beta of 1.71.

ThredUp (NASDAQ:TDUP – Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $77.34 million. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%. On average, sell-side analysts forecast that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Christopher Homer sold 68,358 shares of ThredUp stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $507,216.36. Following the sale, the chief operating officer directly owned 1,170,567 shares in the company, valued at $8,685,607.14. This trade represents a 5.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sean Sobers sold 51,220 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $380,052.40. Following the completion of the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. This trade represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 27.00% of the company’s stock.

Institutional Trading of ThredUp

Several large investors have recently added to or reduced their stakes in TDUP. Bank of America Corp DE boosted its position in ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after acquiring an additional 23,156 shares during the period. Nuveen LLC acquired a new position in shares of ThredUp during the first quarter valued at $571,000. American Century Companies Inc. bought a new stake in shares of ThredUp during the first quarter valued at about $57,000. Walleye Capital LLC acquired a new stake in ThredUp in the first quarter worth about $175,000. Finally, MetLife Investment Management LLC bought a new position in ThredUp in the 1st quarter valued at about $120,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

About ThredUp

(Get Free Report)

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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