Daniel J. Nova Acquires 45,191 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 45,191 shares of ThredUp stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $0.97 per share, with a total value of $43,835.27. Following the completion of the acquisition, the director now owns 54,112 shares of the company’s stock, valued at $52,488.64. The trade was a 506.57 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

ThredUp Price Performance

Shares of ThredUp stock opened at $1.12 on Wednesday. The company has a market capitalization of $127.41 million, a price-to-earnings ratio of -1.75 and a beta of 0.75. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $0.82 and its 200-day simple moving average is $1.31. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $2.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its holdings in shares of ThredUp by 702.7% in the first quarter. Blair William & Co. IL now owns 236,800 shares of the company’s stock worth $474,000 after buying an additional 207,300 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of ThredUp by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,104,201 shares of the company’s stock valued at $2,207,000 after purchasing an additional 30,259 shares during the last quarter. Capital World Investors grew its position in shares of ThredUp by 1.5% during the first quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock valued at $17,415,000 after purchasing an additional 127,600 shares in the last quarter. PEAK6 Investments LLC bought a new stake in shares of ThredUp in the first quarter worth about $328,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of ThredUp by 33.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after buying an additional 5,635 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.