Daniel J. Nova Buys 30,000 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 30,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $1.67 per share, for a total transaction of $50,100.00. Following the transaction, the director now directly owns 244,033 shares in the company, valued at approximately $407,535.11. The trade was a 14.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

ThredUp Price Performance

Shares of NASDAQ TDUP opened at $1.52 on Thursday. The firm has a market capitalization of $172.92 million, a P/E ratio of -2.38 and a beta of 0.75. 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’s 50-day simple moving average is $0.89 and its two-hundred 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.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ThredUp

A number of institutional investors have recently added to or reduced their stakes in the business. Needham Investment Management LLC increased its stake in ThredUp by 7.2% in the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after acquiring an additional 415,000 shares during the last quarter. Geode Capital Management LLC increased its stake in ThredUp by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after acquiring an additional 74,334 shares during the last quarter. State Street Corp increased its stake in ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after acquiring an additional 12,984 shares during the last quarter. Acadian Asset Management LLC increased its stake in ThredUp by 22.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after acquiring an additional 251,629 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after acquiring an additional 674,852 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.