Telsey Advisory Group Reaffirms “Outperform” Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group restated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report sent to investors on Tuesday, Benzinga reports. Telsey Advisory Group currently has a $3.00 price objective on the stock.

TDUP has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Stock Performance

NASDAQ:TDUP opened at $0.55 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.06 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $1.37. The stock has a market cap of $61.00 million, a P/E ratio of -0.94 and a beta of 0.71. ThredUp has a twelve month low of $0.54 and a twelve month high of $3.80.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. The company had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $82.58 million. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities analysts predict that ThredUp will post -0.55 EPS for the current fiscal year.

Insider Transactions at ThredUp

In related news, Director Noam Paransky bought 180,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $0.81 per share, for a total transaction of $145,800.00. Following the acquisition, the director now directly owns 426,444 shares of the company’s stock, valued at $345,419.64. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Noam Paranksy bought 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $0.80 per share, with a total value of $72,000.00. Following the completion of the purchase, the director now directly owns 246,444 shares in the company, valued at $197,155.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Noam Paransky purchased 180,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $0.81 per share, with a total value of $145,800.00. Following the transaction, the director now directly owns 426,444 shares in the company, valued at $345,419.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 385,008 shares of company stock worth $308,906. Company insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

A number of institutional investors have recently modified their holdings of TDUP. Blair William & Co. IL increased its holdings in ThredUp by 285.0% during the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after purchasing an additional 674,852 shares during the period. BloombergSen Inc. bought a new stake in ThredUp in the second quarter valued at $131,000. SG Americas Securities LLC lifted its position in shares of ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the period. PEAK6 Investments LLC bought a new stake in shares of ThredUp during the 1st quarter valued at about $328,000. Finally, Sei Investments Co. purchased a new position in shares of ThredUp during the second quarter valued at about $37,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.