ThredUp (NASDAQ:TDUP) CFO Sean Sobers Sells 44,559 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) CFO Sean Sobers sold 44,559 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $114,962.22. Following the completion of the sale, the chief financial officer owned 613,503 shares in the company, valued at approximately $1,582,837.74. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ThredUp Stock Up 7.5%

TDUP opened at $2.71 on Thursday. The firm has a market cap of $355.90 million, a price-to-earnings ratio of -15.94 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $5.01 and its 200-day simple moving average is $4.57. ThredUp Inc. has a twelve month low of $2.48 and a twelve month high of $11.90.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $90.77 million for the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. Equities research analysts anticipate that ThredUp Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently bought and sold shares of the company. CI Investments Inc. bought a new position in shares of ThredUp during the first quarter worth $5,937,000. Woodson Capital Management LP bought a new stake in shares of ThredUp in the 4th quarter valued at $11,502,000. Arrowstreet Capital Limited Partnership increased its position in shares of ThredUp by 263.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock valued at $19,432,000 after buying an additional 1,491,020 shares in the last quarter. Invesco Ltd. raised its stake in ThredUp by 3,682.1% during the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock worth $8,504,000 after buying an additional 1,105,332 shares during the period. Finally, Readystate Asset Management LP lifted its holdings in ThredUp by 197.4% during the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock worth $10,335,000 after acquiring an additional 1,001,482 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TDUP has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, June 24th. Roth Capital reaffirmed a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a research note on Thursday, August 6th. Finally, Telsey Advisory Group lowered their target price on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.55.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.