ThredUp’s (TDUP) “Hold” Rating Reiterated at Needham & Company LLC

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Separately, Telsey Advisory Group boosted their price objective on ThredUp from $2.00 to $3.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th.

ThredUp Stock Down 1.5 %

Shares of NASDAQ TDUP traded down $0.04 during mid-day trading on Friday, reaching $2.63. 266,835 shares of the company’s stock traded hands, compared to its average volume of 1,265,196. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The business has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $1.28. The stock has a market cap of $299.19 million, a P/E ratio of -4.09 and a beta of 1.75. ThredUp has a 1-year low of $0.50 and a 1-year high of $2.75.

Insiders Place Their Bets

In other news, Director Daniel J. Nova acquired 24,897 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $36,598.59. Following the purchase, the director now owns 303,930 shares of the company’s stock, valued at approximately $446,777.10. The trade was a 8.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Nakache sold 19,685 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $2.50, for a total transaction of $49,212.50. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at $627,390. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 160,685 shares of company stock valued at $212,238 and sold 2,384,338 shares valued at $5,315,309. 34.42% of the stock is currently owned by insiders.

Institutional Trading of ThredUp

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of ThredUp by 134.5% in the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock valued at $2,114,000 after acquiring an additional 872,357 shares during the last quarter. BloombergSen Inc. increased its stake in ThredUp by 278.9% in the 4th quarter. BloombergSen Inc. now owns 639,548 shares of the company’s stock worth $889,000 after purchasing an additional 470,768 shares during the period. Renaissance Technologies LLC lifted its position in ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock valued at $1,360,000 after purchasing an additional 420,012 shares during the last quarter. Needham Investment Management LLC boosted its stake in shares of ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after purchasing an additional 415,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ThredUp during the fourth quarter valued at approximately $521,000. 89.08% of the stock is currently owned by hedge funds and other 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.