ThredUp Sees Unusually High Options Volume (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) was the target of some unusual options trading activity on Friday. Investors purchased 5,250 put options on the company. This is an increase of 1,293% compared to the average daily volume of 377 put options.

Wall Street Analyst Weigh In

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

ThredUp Trading Down 5.1 %

NASDAQ:TDUP traded down $0.14 during midday trading on Friday, hitting $2.56. 312,616 shares of the company traded hands, compared to its average volume of 776,587. The firm has a market capitalization of $297.81 million, a P/E ratio of -4.01 and a beta of 1.73. The firm’s fifty day moving average is $2.44 and its 200-day moving average is $1.59. ThredUp has a 12-month low of $0.50 and a 12-month high of $2.99. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at ThredUp

In related news, Director Patricia Nakache sold 19,685 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $2.50, for a total transaction of $49,212.50. Following the completion of the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $627,390. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,833,612 shares of company stock valued at $6,633,229 in the last three months. 34.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock valued at $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC bought a new position in shares of ThredUp during the fourth quarter valued at approximately $33,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp in the fourth quarter worth approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ThredUp by 9.4% during the 4th 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 bought a new stake in shares of ThredUp during the 4th quarter worth approximately $64,000. Hedge funds and other 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.