Investors Buy High Volume of ThredUp Put Options (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) saw unusually large options trading on Friday. Traders bought 5,250 put options on the stock. This represents an increase of 1,293% compared to the average daily volume of 377 put options.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TDUP. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday, March 4th.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 625,498 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $1.95, for a total value of $1,219,721.10. Following the completion of the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $489,364.20. This represents a 71.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 2,833,612 shares of company stock worth $6,633,229. Corporate insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in shares of ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock valued at $31,000 after buying an additional 7,287 shares during the period. Virtu Financial LLC acquired a new position in ThredUp in the fourth quarter valued at approximately $33,000. Cubist Systematic Strategies LLC purchased a new position in ThredUp in the fourth quarter worth approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ThredUp by 9.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock worth $63,000 after acquiring an additional 3,908 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in ThredUp in the fourth quarter valued at $64,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Down 4.1 %

NASDAQ TDUP opened at $2.59 on Friday. The business’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $1.61. 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 firm has a market cap of $300.95 million, a PE ratio of -4.05 and a beta of 1.73. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.99.

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.