ThredUp Inc. (NASDAQ:TDUP) Director Purchases $45,897.00 in Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova acquired 45,897 shares of ThredUp stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $1.00 per share, for a total transaction of $45,897.00. Following the purchase, the director now owns 124,142 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website.

ThredUp Price Performance

Shares of ThredUp stock opened at $1.34 on Friday. The stock has a market cap of $152.44 million, a price-to-earnings ratio of -2.09 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. The stock has a 50 day moving average price of $0.84 and a 200-day moving average price of $1.31. ThredUp Inc. has a one year low of $0.50 and a one year high of $2.60.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blair William & Co. IL boosted its holdings in ThredUp by 285.0% during the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after acquiring an additional 674,852 shares during the period. BloombergSen Inc. purchased a new stake in shares of ThredUp in the 2nd quarter worth $131,000. SG Americas Securities LLC lifted its holdings in shares of ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares during the period. PEAK6 Investments LLC purchased a new stake in shares of ThredUp in the 1st quarter worth $328,000. Finally, Sei Investments Co. purchased a new stake in shares of ThredUp in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.