Daniel J. Nova Buys 45,897 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 45,897 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the acquisition, the director now owns 124,142 shares in the company, valued at approximately $124,142. The trade was a 58.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ThredUp Stock Performance

TDUP stock opened at $1.26 on Thursday. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $2.60. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $0.83 and a 200 day moving average price of $1.31.

Hedge Funds Weigh In On ThredUp

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

Wall Street Analysts Forecast Growth

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

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.