ThredUp (NASDAQ:TDUP) Price Target Raised to $3.00 at Telsey Advisory Group

ThredUp (NASDAQ:TDUP) had its price objective increased by equities researchers at Telsey Advisory Group from $2.00 to $3.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 38.25% from the company’s current price.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a report on Tuesday.

ThredUp Stock Performance

Shares of TDUP opened at $2.17 on Wednesday. The company has a 50-day simple moving average of $1.43 and a 200-day simple moving average of $1.20. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $246.86 million, a PE ratio of -3.39 and a beta of 1.66. ThredUp has a 52-week low of $0.50 and a 52-week high of $2.42.

Insider Buying and Selling at ThredUp

In other news, Director Daniel J. Nova purchased 45,897 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $1.00 per share, with a total value of $45,897.00. Following the purchase, the director now directly owns 124,142 shares of the company’s stock, valued at approximately $124,142. This trade represents a 58.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Nakache sold 195,337 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.26, for a total transaction of $441,461.62. Following the sale, the director now directly owns 250,956 shares in the company, valued at $567,160.56. This represents a 43.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 214,797 shares of company stock worth $264,905 and sold 922,112 shares worth $1,840,991. 34.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently modified their holdings of the company. Sei Investments Co. acquired a new stake in shares of ThredUp during the 2nd quarter worth about $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp during the 2nd quarter worth about $43,000. Creekside Partners acquired a new stake in shares of ThredUp during the 2nd quarter worth about $51,000. SG Americas Securities LLC boosted its stake in shares of ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of ThredUp by 278.7% during the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after purchasing an additional 76,553 shares during the last quarter. 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.