Short Interest in ThredUp Inc. (NASDAQ:TDUP) Declines By 17.9%

ThredUp Inc. (NASDAQ:TDUP) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 4,070,000 shares, a decline of 17.9% from the January 15th total of 4,960,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 5.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Friday. Telsey Advisory Group increased their price target on ThredUp from $2.00 to $3.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th.

Insider Activity at ThredUp

In other news, Director Daniel J. Nova acquired 30,000 shares of ThredUp stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $1.21 per share, for a total transaction of $36,300.00. Following the completion of the purchase, the director now directly owns 154,142 shares of the company’s stock, valued at $186,511.82. This trade represents a 24.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patricia Nakache sold 19,685 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $2.50, for a total transaction of $49,212.50. Following the sale, the director now owns 250,956 shares of the company’s stock, valued at approximately $627,390. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 160,685 shares of company stock valued at $212,238 and sold 2,384,338 shares valued at $5,315,309. 34.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in ThredUp by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after buying an additional 15,850 shares in the last quarter. BloombergSen Inc. raised its stake in shares of ThredUp by 118.5% during the third quarter. BloombergSen Inc. now owns 168,780 shares of the company’s stock valued at $142,000 after purchasing an additional 91,518 shares in the last quarter. Privium Fund Management B.V. lifted its holdings in ThredUp by 76.3% in the third quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock worth $323,000 after purchasing an additional 165,935 shares during the period. Needham Investment Management LLC grew its position in 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 buying an additional 415,000 shares in the last quarter. Finally, State Street Corp increased its stake in ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock valued at $1,215,000 after buying an additional 12,984 shares during the period. Institutional investors own 89.08% of the company’s stock.

ThredUp Stock Down 0.4 %

Shares of NASDAQ:TDUP opened at $2.66 on Friday. 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 company’s 50-day moving average price is $1.88 and its 200 day moving average price is $1.28. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $2.75.

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.