Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Buys 30,000 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova acquired 30,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $1.21 per share, with a total value of $36,300.00. Following the completion of the purchase, the director now directly owns 154,142 shares in the company, valued at approximately $186,511.82. This represents a 24.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

ThredUp Stock Performance

TDUP opened at $1.55 on Friday. 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 stock’s 50 day moving average price is $0.85 and its 200-day moving average price is $1.30. ThredUp Inc. has a one year low of $0.50 and a one year high of $2.60.

Analyst Ratings Changes

TDUP has been the subject of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research report on Tuesday, October 29th. Wells Fargo & Company decreased their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, ThredUp presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the last quarter. Sei Investments Co. bought a new position in ThredUp in the second quarter worth approximately $37,000. Cubist Systematic Strategies LLC bought a new stake in ThredUp during the 2nd quarter valued at $43,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of ThredUp by 33.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after buying an additional 5,635 shares during the period. Finally, Diversified Trust Co grew its position in shares of ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after buying an additional 15,175 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

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.