ThredUp Sees Unusually High Options Volume (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) saw unusually large options trading activity on Tuesday. Stock investors purchased 9,371 call options on the stock. This represents an increase of 1,299% compared to the average volume of 670 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TDUP shares. Wells Fargo & Company restated an “overweight” rating and set a $7.50 price objective (up previously from $6.00) on shares of ThredUp in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a report on Tuesday, March 4th. Finally, Telsey Advisory Group increased their target price on ThredUp from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Tuesday.

ThredUp Price Performance

Shares of ThredUp stock traded up $1.82 on Tuesday, hitting $6.26. 14,460,075 shares of the company were exchanged, compared to its average volume of 1,274,062. 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 company has a 50-day moving average price of $3.01 and a 200 day moving average price of $2.12. The stock has a market capitalization of $727.73 million, a price-to-earnings ratio of -9.79 and a beta of 1.51. ThredUp has a 1-year low of $0.50 and a 1-year high of $6.46.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. The company had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. As a group, sell-side analysts predict that ThredUp will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 49,007 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $2.24, for a total transaction of $109,775.68. Following the sale, the director now owns 250,956 shares of the company’s stock, valued at $562,141.44. This trade represents a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,757,883 shares of company stock worth $5,140,216 in the last three months. Corporate insiders own 27.00% of the company’s stock.

Institutional Trading of ThredUp

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its holdings in ThredUp by 134.5% during the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock valued at $2,114,000 after acquiring an additional 872,357 shares during the period. BloombergSen Inc. lifted its position in shares of ThredUp by 278.9% during the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company’s stock worth $889,000 after purchasing an additional 470,768 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock valued at $1,360,000 after purchasing an additional 420,012 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in ThredUp during the 4th quarter worth approximately $521,000. Finally, Archon Capital Management LLC acquired a new stake in ThredUp during the 4th quarter worth approximately $461,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.