Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Purchases 30,000 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Daniel J. Nova bought 30,000 shares of ThredUp stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $1.67 per share, with a total value of $50,100.00. Following the acquisition, the director now directly owns 244,033 shares of the company’s stock, valued at approximately $407,535.11. The trade was a 14.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ThredUp Stock Performance

NASDAQ:TDUP opened at $1.52 on Friday. ThredUp Inc. has a one year low of $0.50 and a one year high of $2.60. 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 stock has a 50 day moving average price of $0.89 and a 200 day moving average price of $1.29.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new position in ThredUp in the second quarter worth approximately $37,000. Price T Rowe Associates Inc. MD boosted its position in shares of ThredUp by 33.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after buying an additional 5,635 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of ThredUp during the second quarter worth $43,000. Diversified Trust Co boosted its position in shares of ThredUp by 117.3% during the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after buying an additional 15,175 shares during the period. Finally, Creekside Partners purchased a new position in shares of ThredUp during the second quarter worth $51,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on TDUP shares. Wells Fargo & Company reduced their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 target price on shares of ThredUp in a report on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.40.

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.