Telsey Advisory Group Forecasts Strong Price Appreciation for ThredUp (NASDAQ:TDUP) Stock

ThredUp (NASDAQ:TDUP) had its target price boosted by stock analysts at Telsey Advisory Group from $3.00 to $6.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 35.44% from the stock’s previous close.

Separately, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a report on Tuesday, March 4th.

ThredUp Trading Up 3.3 %

Shares of NASDAQ TDUP opened at $4.43 on Monday. ThredUp has a 1-year low of $0.50 and a 1-year high of $4.47. The business has a fifty day moving average price of $2.86 and a 200 day moving average price of $2.02. The stock has a market capitalization of $514.74 million, a P/E ratio of -6.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 137,076 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $2.22, for a total transaction of $304,308.72. Following the transaction, the director now owns 250,956 shares in the company, valued at approximately $557,122.32. This represents a 35.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 2,374,820 shares of company stock valued at $6,548,205 in the last ninety days. Corporate insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently made changes to their positions in TDUP. Needham Investment Management LLC lifted its position in ThredUp by 2.7% during the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock worth $8,851,000 after acquiring an additional 167,500 shares during the period. FIL Ltd lifted its holdings in shares of ThredUp by 0.8% during the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company’s stock worth $4,726,000 after purchasing an additional 27,000 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ThredUp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company’s stock worth $2,663,000 after purchasing an additional 26,326 shares during the period. Marshall Wace LLP boosted its position in ThredUp by 134.5% in the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company’s stock valued at $2,114,000 after buying an additional 872,357 shares during the last quarter. Finally, State Street Corp increased its holdings in ThredUp by 0.9% in the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after buying an additional 12,984 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.