ThredUp (NASDAQ:TDUP) Price Target Raised to $3.00 at Telsey Advisory Group

ThredUp (NASDAQ:TDUP) had its price target increased by Telsey Advisory Group from $2.00 to $3.00 in a research note released on Wednesday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

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

ThredUp Price Performance

Shares of NASDAQ:TDUP opened at $2.26 on Wednesday. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.42. The company’s 50 day moving average is $1.40 and its two-hundred day moving average is $1.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $1.77, for a total transaction of $73,766.52. Following the transaction, the director now owns 250,956 shares in the company, valued at $444,192.12. This trade represents a 14.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Nova purchased 24,897 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $36,598.59. Following the transaction, the director now owns 303,930 shares of the company’s stock, valued at $446,777.10. This trade represents a 8.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 214,797 shares of company stock worth $264,905 and sold 101,277 shares worth $179,808. Insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently modified their holdings of the business. Sei Investments Co. acquired a new stake in ThredUp during the 2nd quarter worth $37,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp in the second quarter valued at about $43,000. Creekside Partners acquired a new stake in shares of ThredUp during the second quarter worth about $51,000. SG Americas Securities LLC boosted its stake in shares of ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares during the period. Finally, Barclays PLC grew its holdings in shares of ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after buying an additional 76,553 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other 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.