Daniel J. Nova Buys 29,891 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 29,891 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $1.45 per share, for a total transaction of $43,341.95. Following the acquisition, the director now directly owns 214,033 shares in the company, valued at $310,347.85. This trade represents a 16.23 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ThredUp Trading Down 5.0 %

NASDAQ:TDUP opened at $1.52 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $0.87 and its 200 day simple moving average is $1.29. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $2.60.

Institutional Investors Weigh In On ThredUp

Large investors have recently modified their holdings of the stock. Sei Investments Co. bought a new stake in ThredUp during the 2nd quarter valued at approximately $37,000. Price T Rowe Associates Inc. MD lifted its stake in shares of ThredUp by 33.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after purchasing an additional 5,635 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of ThredUp during the second quarter valued at approximately $43,000. Diversified Trust Co grew its stake in ThredUp by 117.3% in the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after purchasing an additional 15,175 shares during the period. Finally, Creekside Partners purchased a new position in ThredUp during the second quarter valued at $51,000. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

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