ThredUp’s (TDUP) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report sent to investors on Monday morning,Benzinga reports. Telsey Advisory Group currently has a $12.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the company. Northland Capmk upgraded ThredUp to a “strong-buy” rating in a research note on Monday, July 21st. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Northland Securities set a $14.00 price objective on shares of ThredUp in a research report on Tuesday, August 5th. Wells Fargo & Company raised their price objective on shares of ThredUp from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Stock Performance

Shares of TDUP opened at $9.02 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $9.99 and its 200-day moving average price is $8.20. ThredUp has a 52 week low of $0.50 and a 52 week high of $12.28. The stock has a market cap of $1.11 billion, a P/E ratio of -18.41 and a beta of 1.71.

Insiders Place Their Bets

In related news, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares of the company’s stock, valued at $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sean Sobers sold 50,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total value of $502,000.00. Following the sale, the chief financial officer owned 427,390 shares of the company’s stock, valued at approximately $4,290,995.60. This trade represents a 10.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 255,000 shares of company stock valued at $2,642,100. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp during the 1st quarter valued at about $25,000. Raymond James Financial Inc. bought a new stake in ThredUp during the second quarter valued at approximately $32,000. Voya Investment Management LLC purchased a new stake in ThredUp during the first quarter valued at approximately $51,000. State of Alaska Department of Revenue purchased a new stake in ThredUp during the third quarter valued at approximately $55,000. Finally, American Century Companies Inc. bought a new position in ThredUp in the first quarter worth approximately $57,000. 89.08% of the stock is currently owned by institutional investors.

ThredUp Company Profile

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.