ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova Buys 29,891 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova purchased 29,891 shares of ThredUp stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $1.45 per share, with a total value of $43,341.95. Following the completion of the purchase, the director now owns 214,033 shares in the company, valued at approximately $310,347.85. This trade represents a 16.23 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

ThredUp Stock Up 3.2 %

Shares of ThredUp stock opened at $1.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a 12-month low of $0.50 and a 12-month high of $2.60. The firm has a market capitalization of $182.02 million, a PE ratio of -2.50 and a beta of 0.75. The stock’s fifty day moving average is $0.86 and its 200-day moving average is $1.29.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On ThredUp

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after buying an additional 15,850 shares during the period. Sei Investments Co. purchased a new position in ThredUp during the 2nd quarter valued at about $37,000. Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp in the 2nd quarter valued at about $43,000. Price T Rowe Associates Inc. MD increased its holdings in shares of ThredUp by 33.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after purchasing an additional 5,635 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of ThredUp by 117.3% during the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after purchasing an additional 15,175 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.