ThredUp (NASDAQ:TDUP) Hits New 1-Year High – Here’s Why

ThredUp Inc. (NASDAQ:TDUP) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.92 and last traded at $7.75, with a volume of 263489 shares traded. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

TDUP has been the topic of several recent analyst reports. Telsey Advisory Group lifted their target price on shares of ThredUp from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wells Fargo & Company reiterated an “overweight” rating and issued a $7.50 target price (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th.

ThredUp Stock Up 1.3%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The firm’s 50-day simple moving average is $5.53 and its 200-day simple moving average is $3.27. The company has a market capitalization of $917.60 million, a price-to-earnings ratio of -12.13 and a beta of 1.75.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $71.29 million for the quarter, compared to analyst estimates of $67.54 million. Sell-side analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Activity

In other ThredUp news, Director Patricia Nakache sold 49,007 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $2.24, for a total value of $109,775.68. Following the completion of the transaction, the director now directly owns 250,956 shares of the company’s stock, valued at approximately $562,141.44. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 811,860 shares of company stock worth $2,592,099. Corporate insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of institutional investors have recently modified their holdings of TDUP. Tocqueville Asset Management L.P. bought a new position in shares of ThredUp in the first quarter worth about $2,338,000. Blair William & Co. IL raised its stake in shares of ThredUp by 46.3% during the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company’s stock worth $7,157,000 after buying an additional 939,449 shares during the last quarter. Marshall Wace LLP raised its stake in shares of ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock worth $2,114,000 after buying an additional 872,357 shares during the last quarter. BloombergSen Inc. raised its stake in shares of ThredUp by 98.5% during the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company’s stock worth $3,060,000 after buying an additional 630,101 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of ThredUp by 75.2% during the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock worth $1,360,000 after buying an additional 420,012 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

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.