ThredUp (NASDAQ:TDUP) Receives Outperform Rating from Telsey Advisory Group

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $3.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 34.53% from the stock’s current price.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday.

ThredUp Price Performance

TDUP stock opened at $2.23 on Tuesday. The firm has a 50 day moving average of $2.10 and a 200-day moving average of $1.40. The firm has a market capitalization of $253.68 million, a P/E ratio of -3.48 and a beta of 1.75. ThredUp has a 12 month low of $0.50 and a 12 month high of $2.99. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 41,676 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 250,956 shares of the company’s stock, valued at $444,192.12. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,739,811 shares of company stock valued at $6,379,508 over the last three months. 34.42% of the stock is owned by corporate insiders.

Institutional Trading of ThredUp

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in ThredUp by 0.9% during the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after purchasing an additional 12,984 shares in the last quarter. Barclays PLC raised its holdings in shares of ThredUp by 278.7% during the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock valued at $87,000 after buying an additional 76,553 shares in the last quarter. Geode Capital Management LLC lifted its position in ThredUp by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after buying an additional 74,334 shares during the last quarter. Privium Fund Management B.V. lifted its position in ThredUp by 76.3% in the 3rd quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock worth $323,000 after buying an additional 165,935 shares during the last quarter. Finally, Needham Investment Management LLC boosted its stake in ThredUp by 7.2% in the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after buying an additional 415,000 shares in the last quarter. 89.08% of the stock is 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.