ThredUp (NASDAQ:TDUP) COO Christopher Homer Sells 60,230 Shares

ThredUp Inc. (NASDAQ:TDUP) COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $155,393.40. Following the sale, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at $3,517,463.64. The trade was a 4.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Trading Up 7.5%

TDUP opened at $2.71 on Thursday. The stock has a market capitalization of $355.90 million, a PE ratio of -15.94 and a beta of 1.97. The firm’s fifty day moving average price is $5.01 and its 200 day moving average price is $4.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99. ThredUp Inc. has a 12-month low of $2.48 and a 12-month high of $11.90.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $90.77 million for the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. As a group, research analysts expect that ThredUp Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ThredUp

Several institutional investors have recently made changes to their positions in the stock. CI Investments Inc. acquired a new position in ThredUp during the 1st quarter valued at approximately $5,937,000. Woodson Capital Management LP acquired a new stake in ThredUp in the fourth quarter worth $11,502,000. Arrowstreet Capital Limited Partnership increased its position in ThredUp by 263.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock worth $19,432,000 after buying an additional 1,491,020 shares during the period. Invesco Ltd. lifted its stake in ThredUp by 3,682.1% in the second quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock valued at $8,504,000 after buying an additional 1,105,332 shares during the last quarter. Finally, Readystate Asset Management LP lifted its stake in ThredUp by 197.4% in the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock valued at $10,335,000 after buying an additional 1,001,482 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Telsey Advisory Group dropped their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, Roth Capital restated a “buy” rating and set a $6.50 price objective on shares of ThredUp in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ThredUp presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.55.

ThredUp Company Profile

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.