Insider Buying: ThredUp Inc. (NASDAQ:TDUP) Director Purchases 6,810 Shares of Stock

ThredUp Inc. (NASDAQ:TDUP) Director Ian Friedman bought 6,810 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $2.20 per share, with a total value of $14,982.00. Following the acquisition, the director now owns 367,558 shares of the company’s stock, valued at $808,627.60. This trade represents a 1.89 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ThredUp Stock Performance

Shares of TDUP opened at $2.23 on Wednesday. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $2.99. The stock has a fifty day moving average price of $2.30 and a 200-day moving average price of $1.52. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market cap of $259.11 million, a PE ratio of -3.48 and a beta of 1.73.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently made changes to their positions in TDUP. Needham Investment Management LLC increased its position in shares of ThredUp by 7.2% in the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after acquiring an additional 415,000 shares during the period. State Street Corp increased its position in shares of ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after acquiring an additional 12,984 shares during the period. Barclays PLC increased its position in shares of ThredUp by 278.7% in the 3rd 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 increased its position in shares of ThredUp by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock valued at $1,591,000 after acquiring an additional 74,334 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ThredUp in the 4th quarter valued at $348,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.