ThredUp (NASDAQ:TDUP) Hits New 12-Month High – Still a Buy?

Shares of ThredUp Inc. (NASDAQ:TDUP) hit a new 52-week high on Tuesday . The company traded as high as $7.61 and last traded at $7.46, with a volume of 723195 shares trading hands. The stock had previously closed at $7.24.

Analyst Upgrades and Downgrades

TDUP has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th. Telsey Advisory Group increased their price target on shares of ThredUp from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $7.50 price objective (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

ThredUp Price Performance

The firm has a market cap of $872.66 million, a PE ratio of -11.53 and a beta of 1.51. The stock has a 50 day simple moving average of $4.82 and a two-hundred day simple moving average of $2.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

ThredUp (NASDAQ:TDUP) last announced its quarterly 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 return on equity of 78.74% and a negative net margin of 22.16%. The company had revenue of $71.29 million during the quarter, compared to analysts’ expectations of $67.54 million. Sell-side analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 271,762 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $3.43, for a total transaction of $932,143.66. Following the sale, the director now owns 250,956 shares in the company, valued at approximately $860,779.08. This trade represents a 51.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 811,860 shares of company stock worth $2,592,099 in the last three months. Company insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC increased its stake in shares of ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company’s stock valued at $166,000 after purchasing an additional 15,307 shares in the last quarter. Renaissance Technologies LLC grew its holdings in ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company’s stock valued at $1,360,000 after purchasing an additional 420,012 shares during the period. PEAK6 LLC acquired a new stake in ThredUp in the fourth quarter valued at approximately $228,000. BloombergSen Inc. increased its position in shares of ThredUp by 278.9% in the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company’s stock valued at $889,000 after buying an additional 470,768 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company’s stock worth $280,000 after buying an additional 165,115 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.