ThredUp (NASDAQ:TDUP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ThredUp (NASDAQ:TDUP) from a hold rating to a buy rating in a research report report published on Saturday.

TDUP has been the topic of a number of other research reports. Telsey Advisory Group increased their target price on ThredUp from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $7.50 price objective (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Stock Down 0.8%

Shares of TDUP stock opened at $7.66 on Friday. The stock’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $3.21. 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 has a market capitalization of $905.77 million, a PE ratio of -11.97 and a beta of 1.75. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $7.80.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. The business had revenue of $71.29 million for the quarter, compared to analyst estimates of $67.54 million. Equities analysts expect that ThredUp will post -0.56 earnings per share for the current year.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 91,070 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $2.48, for a total value of $225,853.60. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at $622,370.88. This trade represents a 26.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 811,860 shares of company stock valued at $2,592,099. 27.00% of the stock is owned by insiders.

Institutional Trading of ThredUp

A number of hedge funds and other institutional investors have recently modified their holdings of TDUP. Victory Capital Management Inc. acquired a new stake in shares of ThredUp in the 1st quarter worth $25,000. CHICAGO TRUST Co NA acquired a new stake in shares of ThredUp in the 1st quarter worth $30,000. ProShare Advisors LLC increased its position in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after purchasing an additional 7,287 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of ThredUp during the 4th quarter worth about $33,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp during the 4th quarter worth about $48,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.