Patricia Nakache Sells 479,861 Shares of ThredUp Inc. (NASDAQ:TDUP) Stock

ThredUp Inc. (NASDAQ:TDUP) Director Patricia Nakache sold 479,861 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.30, for a total value of $1,103,680.30. Following the completion of the transaction, the director now owns 250,956 shares in the company, valued at approximately $577,198.80. This represents a 65.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Patricia Nakache also recently made the following trade(s):

• On Wednesday, February 5th, Patricia Nakache sold 420,711 shares of ThredUp stock. The shares were sold at an average price of $2.61, for a total value of $1,098,055.71.
• On Friday, January 31st, Patricia Nakache sold 137,076 shares of ThredUp stock. The shares were sold at an average price of $2.22, for a total value of $304,308.72.
• On Wednesday, January 29th, Patricia Nakache sold 34,798 shares of ThredUp stock. The shares were sold at an average price of $2.19, for a total value of $76,207.62.
• On Thursday, January 23rd, Patricia Nakache sold 107,911 shares of ThredUp stock. The shares were sold at an average price of $2.10, for a total value of $226,613.10.
• On Tuesday, January 21st, Patricia Nakache sold 167,031 shares of ThredUp stock. The stock was sold at an average price of $2.26, for a total value of $377,490.06.
• On Thursday, January 16th, Patricia Nakache sold 195,337 shares of ThredUp stock. The shares were sold at an average price of $2.26, for a total value of $441,461.62.
• On Tuesday, January 14th, Patricia Nakache sold 625,498 shares of ThredUp stock. The shares were sold at an average price of $1.95, for a total value of $1,219,721.10.
• On Monday, December 9th, Patricia Nakache sold 41,676 shares of ThredUp stock. The stock was sold at an average price of $1.77, for a total value of $73,766.52.
• On Wednesday, December 4th, Patricia Nakache sold 4,600 shares of ThredUp stock. The stock was sold at an average price of $1.77, for a total value of $8,142.00.
• On Monday, December 2nd, Patricia Nakache sold 54,801 shares of ThredUp stock. The shares were sold at an average price of $1.78, for a total value of $97,545.78.

ThredUp Stock Performance

NASDAQ:TDUP opened at $2.45 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a 12-month low of $0.50 and a 12-month high of $2.69. The stock has a 50-day moving average price of $1.77 and a 200 day moving average price of $1.26. The stock has a market capitalization of $278.71 million, a P/E ratio of -3.83 and a beta of 1.75.

Hedge Funds Weigh In On ThredUp

Several institutional investors have recently added to or reduced their stakes in the company. Needham Investment Management LLC lifted its stake in shares of ThredUp by 7.2% in the 3rd 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 last quarter. Squarepoint Ops LLC increased its holdings in ThredUp by 72.6% during the 2nd quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after purchasing an additional 169,196 shares during the period. Privium Fund Management B.V. increased its holdings in ThredUp by 76.3% during the 3rd quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock worth $323,000 after purchasing an additional 165,935 shares during the period. Simplicity Wealth LLC purchased a new position in shares of ThredUp in the 3rd quarter valued at $97,000. Finally, Renaissance Technologies LLC increased its holdings in shares of ThredUp by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 444,412 shares of the company’s stock valued at $756,000 after acquiring an additional 91,708 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TDUP. Telsey Advisory Group boosted their target price on ThredUp from $2.00 to $3.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a report on Tuesday, January 14th.

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.