Sean Sobers Sells 45,554 Shares of ThredUp (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 45,554 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer directly owned 572,523 shares in the company, valued at approximately $2,536,276.89. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Performance

NASDAQ TDUP opened at $4.80 on Friday. The stock has a market cap of $619.39 million, a P/E ratio of -30.00 and a beta of 2.07. The company’s 50-day simple moving average is $4.16 and its 200 day simple moving average is $5.18. ThredUp Inc. has a twelve month low of $3.08 and a twelve month high of $12.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.30.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $81.67 million for the quarter, compared to analysts’ expectations of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. As a group, research analysts forecast that ThredUp Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of ThredUp

Several hedge funds have recently modified their holdings of TDUP. Raymond James Financial Inc. bought a new stake in shares of ThredUp during the second quarter valued at approximately $32,000. R Squared Ltd bought a new stake in shares of ThredUp during the first quarter valued at approximately $34,000. Quarry LP bought a new stake in shares of ThredUp during the third quarter valued at approximately $37,000. Abel Hall LLC bought a new stake in shares of ThredUp during the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. grew its stake in shares of ThredUp by 552.9% during the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after purchasing an additional 5,424 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on TDUP shares. Telsey Advisory Group decreased their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company decreased their price objective on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. TD Cowen increased their price target on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.