ThredUp Inc. (NASDAQ:TDUP) Sees Large Decrease in Short Interest

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 4,070,000 shares, a decrease of 17.9% from the January 15th total of 4,960,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 5.0% of the company’s shares are sold short.

ThredUp Stock Down 0.4 %

NASDAQ:TDUP opened at $2.66 on Friday. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.75. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $1.88 and a 200-day moving average of $1.29.

Insider Buying and Selling

In related news, Director Daniel J. Nova acquired 24,897 shares of ThredUp stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $1.47 per share, for a total transaction of $36,598.59. Following the completion of the purchase, the director now directly owns 303,930 shares in the company, valued at $446,777.10. This trade represents a 8.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patricia Nakache sold 86,777 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $2.51, for a total value of $217,810.27. Following the completion of the sale, the director now owns 250,956 shares of the company’s stock, valued at approximately $629,899.56. This trade represents a 25.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 160,685 shares of company stock valued at $212,238 and sold 2,384,338 shares valued at $5,315,309. Corporate insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several large investors have recently added to or reduced their stakes in TDUP. SG Americas Securities LLC grew its position in shares of ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after acquiring an additional 15,850 shares during the last quarter. Virtu Financial LLC acquired a new position in ThredUp during the 4th quarter valued at about $33,000. O Shaughnessy Asset Management LLC acquired a new position in ThredUp during the 4th quarter valued at about $64,000. Wells Fargo & Company MN increased its stake in shares of ThredUp by 32.1% in the fourth quarter. Wells Fargo & Company MN now owns 57,426 shares of the company’s stock valued at $80,000 after purchasing an additional 13,941 shares during the period. Finally, Barclays PLC raised its holdings in shares of ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock valued at $87,000 after buying an additional 76,553 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TDUP has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Friday. Telsey Advisory Group raised their price objective on ThredUp from $2.00 to $3.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th.

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.