ThredUp Inc. (NASDAQ:TDUP) Short Interest Down 13.3% in February

ThredUp Inc. (NASDAQ:TDUP) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 3,640,000 shares, a decline of 13.3% from the February 13th total of 4,200,000 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average trading volume of 921,800 shares, the short-interest ratio is presently 3.9 days.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TDUP. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a report on Tuesday, March 4th.

ThredUp Stock Down 0.4 %

TDUP opened at $2.44 on Friday. The firm has a market cap of $283.52 million, a price-to-earnings ratio of -3.81 and a beta of 1.73. The firm’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $1.53. 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 has a twelve month low of $0.50 and a twelve month high of $2.99.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $2.48, for a total transaction of $225,853.60. Following the transaction, the director now owns 250,956 shares of the company’s stock, valued at approximately $622,370.88. This represents a 26.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 2,833,612 shares of company stock valued at $6,633,229 over the last ninety days. Corporate insiders own 34.42% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Needham Investment Management LLC raised its position in shares of ThredUp by 7.2% during the third quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock worth $5,220,000 after acquiring an additional 415,000 shares during the last quarter. State Street Corp boosted its position in shares of ThredUp by 0.9% during the third quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after purchasing an additional 12,984 shares in the last quarter. Barclays PLC grew its stake in ThredUp by 278.7% in the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock valued at $87,000 after acquiring an additional 76,553 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ThredUp by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock valued at $1,591,000 after purchasing an additional 74,334 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ThredUp during the 4th quarter worth approximately $348,000. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Company Profile

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.