Investors Buy Large Volume of ThredUp Put Options (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 4,016 put options on the company. This is an increase of 475% compared to the average daily volume of 699 put options.

Several analysts have issued reports on TDUP shares. Morgan Stanley increased their target price on shares of ThredUp from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 9th. Guggenheim began coverage on shares of ThredUp in a report on Monday. They issued a “buy” rating and a $25.00 price target on the stock. Berenberg Bank began coverage on shares of ThredUp in a report on Tuesday, September 28th. They issued a “hold” rating and a $21.00 price target on the stock. Wedbush began coverage on shares of ThredUp in a report on Monday, October 4th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of ThredUp from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, November 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, ThredUp has an average rating of “Buy” and an average target price of $26.92.

In related news, major shareholder Gs Investment Strategies, Llc sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $19.28, for a total transaction of $964,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anthony Salvatore Marino sold 1,745 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The shares were sold at an average price of $20.00, for a total transaction of $34,900.00. The disclosure for this sale can be found here. Insiders sold a total of 1,667,739 shares of company stock valued at $35,129,698 over the last ninety days.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of ThredUp by 33.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,456 shares of the company’s stock worth $336,000 after purchasing an additional 3,904 shares during the period. Brookfield Asset Management Inc. lifted its position in shares of ThredUp by 50.0% in the 3rd quarter. Brookfield Asset Management Inc. now owns 225,000 shares of the company’s stock worth $4,880,000 after purchasing an additional 75,000 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of ThredUp in the 3rd quarter worth about $64,309,000. Millennium Management LLC purchased a new stake in shares of ThredUp in the 3rd quarter worth about $1,185,000. Finally, Capital World Investors purchased a new stake in shares of ThredUp in the 3rd quarter worth about $57,893,000. 25.38% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:TDUP traded down $0.31 on Wednesday, hitting $17.73. The company had a trading volume of 34,281 shares, compared to its average volume of 656,391. The stock’s 50-day moving average is $19.96. ThredUp has a 1 year low of $14.23 and a 1 year high of $31.86. The company has a current ratio of 3.29, a quick ratio of 3.05 and a debt-to-equity ratio of 0.14.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, November 8th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. ThredUp had a negative net margin of 28.00% and a negative return on equity of 52.77%. The firm had revenue of $63.27 million during the quarter, compared to analysts’ expectations of $61.82 million. Equities analysts forecast that ThredUp will post -0.8 EPS for the current fiscal year.

About ThredUp

ThredUp Inc operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. The company was founded in 2009 and is based in Oakland, California.

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