ThredUp (NASDAQ:TDUP) Stock Price Up 11.2% – What’s Next?

Shares of ThredUp Inc. (NASDAQ:TDUP) were up 11.2% during mid-day trading on Thursday . The stock traded as high as $5.87 and last traded at $5.9250. Approximately 939,626 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 2,310,527 shares. The stock had previously closed at $5.33.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TDUP. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th. Telsey Advisory Group lowered their price target on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. TD Cowen boosted 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, Wells Fargo & Company reduced their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.14.

ThredUp Stock Up 11.9%

The stock has a market capitalization of $769.34 million, a price-to-earnings ratio of -37.22 and a beta of 2.07. The business’s 50-day moving average is $4.46 and its two-hundred day moving average is $5.04. 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 announced its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $81.67 million during 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%. Equities analysts anticipate that ThredUp Inc. will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sean Sobers sold 45,554 shares of ThredUp stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the transaction, the chief financial officer owned 572,523 shares in the company, valued at approximately $2,536,276.89. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of ThredUp stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total value of $272,790.54. Following the transaction, the chief operating officer owned 1,301,843 shares in the company, valued at approximately $5,767,164.49. The trade was a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is owned by corporate insiders.

Institutional Trading of ThredUp

Several large investors have recently added to or reduced their stakes in TDUP. Cerity Partners LLC raised its holdings in shares of ThredUp by 6.7% during the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after purchasing an additional 1,601 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ThredUp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after purchasing an additional 2,034 shares during the period. Cubist Systematic Strategies LLC increased its position in ThredUp by 7.6% during the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after purchasing an additional 2,659 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in ThredUp by 3.3% during the third quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock worth $846,000 after purchasing an additional 2,900 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.