Needham & Company LLC Reiterates “Hold” Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday, MarketBeat Ratings reports.

TDUP has been the subject of several other reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a report on Tuesday, August 6th. Wells Fargo & Company decreased their price objective on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

ThredUp Trading Down 2.5 %

NASDAQ:TDUP opened at $0.67 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. The firm has a market capitalization of $73.46 million, a P/E ratio of -1.13 and a beta of 0.71. ThredUp has a one year low of $0.61 and a one year high of $3.80. The company’s 50-day simple moving average is $0.81 and its 200 day simple moving average is $1.42.

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

Insider Buying and Selling at ThredUp

In other ThredUp news, Director Patricia Nakache sold 45,465 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $2.06, for a total transaction of $93,657.90. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $516,969.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ThredUp news, Director Noam Paransky bought 180,000 shares of ThredUp stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $0.81 per share, with a total value of $145,800.00. Following the completion of the acquisition, the director now owns 426,444 shares in the company, valued at approximately $345,419.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia Nakache sold 45,465 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $2.06, for a total transaction of $93,657.90. Following the completion of the transaction, the director now owns 250,956 shares of the company’s stock, valued at approximately $516,969.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 385,008 shares of company stock valued at $308,906. Insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently modified their holdings of the company. Capital World Investors boosted its position in shares of ThredUp by 1.5% in the first quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock worth $17,415,000 after purchasing an additional 127,600 shares during the period. Bares Capital Management Inc. boosted its position in shares of ThredUp by 11.4% during the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock worth $7,098,000 after acquiring an additional 362,221 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of ThredUp by 22.8% during the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after acquiring an additional 251,629 shares during the last quarter. Blair William & Co. IL boosted its position in shares of ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after acquiring an additional 674,852 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after acquiring an additional 209,792 shares during the last quarter. 89.08% of the stock is currently owned by 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.