ThredUp Inc. (NASDAQ:TDUP) Short Interest Up 23.2% in December

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,890,000 shares, a growth of 23.2% from the December 15th total of 3,970,000 shares. Based on an average daily volume of 841,500 shares, the days-to-cover ratio is presently 5.8 days. Currently, 6.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

TDUP has been the topic of several analyst reports. Telsey Advisory Group increased their target price on shares of ThredUp from $2.00 to $3.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Tuesday.

ThredUp Stock Up 4.1 %

Shares of NASDAQ:TDUP traded up $0.09 during mid-day trading on Friday, reaching $2.26. 1,589,208 shares of the stock were exchanged, compared to its average volume of 354,758. The company has a market cap of $257.09 million, a P/E ratio of -3.53 and a beta of 1.66. The stock’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $1.21. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp has a one year low of $0.50 and a one year high of $2.45.

Insiders Place Their Bets

In other ThredUp news, Director Daniel J. Nova bought 24,897 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $1.47 per share, for a total transaction of $36,598.59. Following the transaction, the director now owns 303,930 shares of the company’s stock, valued at approximately $446,777.10. The trade was a 8.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Nakache sold 41,676 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 250,956 shares in the company, valued at $444,192.12. This represents a 14.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 214,797 shares of company stock valued at $264,905 and sold 922,112 shares valued at $1,840,991. Company insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

A number of hedge funds and other institutional investors have recently made changes to their positions in TDUP. Barclays PLC boosted its holdings in ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after purchasing an additional 76,553 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ThredUp by 4.1% during the 3rd 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 last quarter. State Street Corp grew its holdings in shares of ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after acquiring an additional 12,984 shares in the last quarter. Needham Investment Management LLC increased its position in shares of ThredUp by 7.2% in the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after acquiring an additional 415,000 shares during the last quarter. Finally, Privium Fund Management B.V. raised its holdings in ThredUp by 76.3% during the third quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock worth $323,000 after acquiring an additional 165,935 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

About ThredUp

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.