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

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

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a report on Tuesday, October 29th.

ThredUp Stock Up 40.8 %

ThredUp stock traded up $0.53 during trading on Tuesday, reaching $1.83. The stock had a trading volume of 9,586,283 shares, compared to its average volume of 1,451,906. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.42. The business has a 50 day moving average price of $1.38 and a 200 day moving average price of $1.19. 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 has a market cap of $208.18 million, a PE ratio of -2.86 and a beta of 1.66.

Insider Activity

In other ThredUp news, Director Patricia Nakache sold 41,676 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $1.77, for a total value of $73,766.52. Following the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $444,192.12. The trade was a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Nova acquired 45,191 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $0.97 per share, for a total transaction of $43,835.27. Following the completion of the purchase, the director now directly owns 54,112 shares in the company, valued at $52,488.64. This trade represents a 506.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 214,797 shares of company stock valued at $264,905 and have sold 101,277 shares valued at $179,808. Corporate insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of ThredUp by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock worth $179,000 after purchasing an additional 6,421 shares in the last quarter. State Street Corp boosted its position in shares of ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after purchasing an additional 12,984 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of ThredUp by 84.8% during 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ThredUp by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock worth $467,000 after purchasing an additional 20,933 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of ThredUp during the 2nd quarter worth $37,000. 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.