ThredUp Inc (NASDAQ: TDUP) stock jumped 0.50% on Monday to $2.01 against a previous-day closing price of $2.00. With 1.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.67 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.0500 whereas the lowest price it dropped to was $1.9800. The 52-week range on TDUP shows that it touched its highest point at $4.39 and its lowest point at $1.07 during that stretch. It currently has a 1-year price target of $4.11. Beta for the stock currently stands at 0.65.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TDUP was down-trending over the past week, with a drop of -2.90%, but this was down by -28.47% over a month. Three-month performance dropped to -45.23% while six-month performance fell -30.21%. The stock gained 66.12% in the past year, while it has gained 53.44% so far this year. A look at the trailing 12-month EPS for TDUP yields -0.74 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.13. This implies an EPS growth rate of 26.90% for this year and 36.62% for next year.
Float and Shares Shorts:
At present, 107.25 million TDUP shares are outstanding with a float of 74.47 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.77 million, which was 7.24% higher than short shares on Sep 28, 2023. In addition to Mr. James G. Reinhart as the firm’s Co-Founder, CEO & Director, Mr. Anthony S. Marino serves as its President.
Through their ownership of 89.67% of TDUP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.56% of TDUP, in contrast to 28.04% held by mutual funds. Shares owned by individuals account for 14.08%. As the largest shareholder in TDUP with 10.72% of the stake, Capital Research & Management Co holds 8,064,000 shares worth 8,064,000. A second-largest stockholder of TDUP, Goldman Sachs Asset Management LP, holds 7,791,292 shares, controlling over 10.36% of the firm’s shares. Thrivent Asset Management LLC is the third largest shareholder in TDUP, holding 7,035,774 shares or 9.35% stake. With a 10.72% stake in TDUP, the American Funds Small Cap World Fu is the largest stakeholder. A total of 8,064,000 shares are owned by the mutual fund manager. The Thrivent Small Cap Stock Fund, which owns about 5.09% of TDUP stock, is the second-largest Mutual Fund holder. It holds 3,828,834 shares valued at 12.33 million. BBH Partner Fund – Small Cap Equi holds 3.99% of the stake in TDUP, owning 3,000,000 shares worth 9.66 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TDUP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TDUP analysts setting a high price target of $5.00 and a low target of $3.00, the average target price over the next 12 months is $4.11. Based on these targets, TDUP could surge 148.76% to reach the target high and rise by 49.25% to reach the target low. Reaching the average price target will result in a growth of 104.48% from current levels.
Summary of Insider Activity:
Insiders traded TDUP stock several times over the past three months with 10 Buys and 12 Sells. In these transactions, 489,561 shares were bought while 256,984 shares were sold. The number of buy transactions has increased to 119 while that of sell transactions has risen to 91 over the past year. The total number of shares bought during that period was 3,032,605 while 1,644,892 shares were sold.