ThredUp (NASDAQ:TDUP) Now Covered by TD Cowen

Research analysts at TD Cowen began coverage on shares of ThredUp (NASDAQ:TDUP) in a report issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

A number of other research firms also recently weighed in on TDUP. Roth Capital restated a “buy” rating and set a $6.50 price target on shares of ThredUp in a research report on Thursday, August 6th. Telsey Advisory Group cut their price objective on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ThredUp currently has an average rating of “Moderate Buy” and an average price target of $6.55.

ThredUp Price Performance

TDUP stock opened at $2.08 on Friday. The firm has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $4.16. The stock has a market cap of $273.17 million, a PE ratio of -12.23 and a beta of 2.11. ThredUp has a one year low of $1.91 and a one year high of $8.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. The company had revenue of $90.77 million for the quarter, compared to analysts’ expectations of $90.34 million. On average, analysts predict that ThredUp will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the sale, the chief operating officer owned 1,363,358 shares of the company’s stock, valued at $3,517,463.64. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer directly owned 613,503 shares in the company, valued at approximately $1,582,837.74. This trade represents a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.10% of the company’s stock.

Institutional Trading of ThredUp

Several large investors have recently modified their holdings of the business. CI Investments Inc. bought a new position in shares of ThredUp during the first quarter valued at approximately $5,937,000. Readystate Asset Management LP lifted its stake in ThredUp by 197.4% in the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock worth $10,335,000 after acquiring an additional 1,001,482 shares during the period. Zweig DiMenna Associates LLC boosted its holdings in ThredUp by 170.1% in the first quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock valued at $4,771,000 after acquiring an additional 916,000 shares in the last quarter. ProShare Advisors LLC boosted its holdings in ThredUp by 5,274.0% in the third quarter. ProShare Advisors LLC now owns 740,542 shares of the company’s stock valued at $1,570,000 after acquiring an additional 726,762 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in ThredUp by 19.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock valued at $9,727,000 after acquiring an additional 473,907 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.