ThredUp (NASDAQ:TDUP) Shares Gap Down to $19.93

Shares of ThredUp Inc. (NASDAQ:TDUP) gapped down prior to trading on Friday . The stock had previously closed at $19.93, but opened at $19.46. ThredUp shares last traded at $19.54, with a volume of 2,222 shares changing hands.

A number of research firms recently commented on TDUP. Telsey Advisory Group increased their price target on ThredUp from $22.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 27th. KeyCorp increased their price target on ThredUp from $22.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, June 17th. Needham & Company LLC began coverage on ThredUp in a research report on Tuesday, August 24th. They set a “buy” rating and a $35.00 price target on the stock. Piper Sandler increased their price target on ThredUp from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 23rd. Finally, Zacks Investment Research upgraded ThredUp from a “sell” rating to a “hold” rating in a research report on Thursday, September 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, ThredUp currently has an average rating of “Buy” and a consensus price target of $26.44.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.05 and a current ratio of 3.11. The business’s 50-day moving average is $22.57.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Tuesday, August 10th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Equities research analysts forecast that ThredUp Inc. will post -0.61 EPS for the current fiscal year.

In other news, insider Alon Rotem sold 6,000 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $19.00, for a total transaction of $114,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James G. Reinhart sold 10,600 shares of the firm’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $19.51, for a total transaction of $206,806.00. Following the completion of the sale, the chief executive officer now directly owns 33,334 shares in the company, valued at approximately $650,346.34. The disclosure for this sale can be found here. Insiders have sold 1,174,769 shares of company stock worth $27,144,000 in the last quarter.

A number of institutional investors have recently modified their holdings of the business. Park West Asset Management LLC bought a new stake in ThredUp during the first quarter valued at approximately $204,700,000. Price T Rowe Associates Inc. MD raised its stake in ThredUp by 37.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,265,963 shares of the company’s stock valued at $65,894,000 after purchasing an additional 613,762 shares in the last quarter. FMR LLC raised its stake in ThredUp by 25.2% during the second quarter. FMR LLC now owns 2,253,430 shares of the company’s stock valued at $65,530,000 after purchasing an additional 453,430 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of ThredUp in the first quarter valued at $44,157,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of ThredUp by 129.5% in the second quarter. Artisan Partners Limited Partnership now owns 1,770,155 shares of the company’s stock valued at $51,476,000 after acquiring an additional 998,701 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

About ThredUp (NASDAQ:TDUP)

ThredUp Inc operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. The company was founded in 2009 and is based in Oakland, California.

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