Archon Capital Management LLC Invests $461,000 in ThredUp Inc. (NASDAQ:TDUP)

Archon Capital Management LLC acquired a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 331,789 shares of the company's stock, valued at approximately $461,000. Archon Capital Management LLC owned 0.29% of ThredUp at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of ThredUp in the fourth quarter worth $33,000. O Shaughnessy Asset Management LLC bought a new position in shares of ThredUp during the 4th quarter valued at about $64,000. Wells Fargo & Company MN raised its stake in shares of ThredUp by 32.1% during the fourth quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock worth $80,000 after acquiring an additional 13,941 shares in the last quarter. Barclays PLC lifted its holdings in shares of ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company's stock worth $87,000 after acquiring an additional 76,553 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock valued at $280,000 after purchasing an additional 165,115 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 315,102 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $2.87, for a total value of $904,342.74. Following the completion of the transaction, the director now directly owns 250,956 shares in the company, valued at $720,243.72. This trade represents a 55.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 2,012,777 shares of company stock worth $4,972,046. Company insiders own 34.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TDUP shares. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $3.00 target price on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Trading Up 0.6 %

ThredUp stock traded up $0.02 during mid-day trading on Thursday, reaching $3.30. 376,673 shares of the company traded hands, compared to its average volume of 811,441. ThredUp Inc. has a 52-week low of $0.50 and a 52-week high of $3.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The firm's 50 day moving average price is $2.65 and its 200 day moving average price is $1.82. The firm has a market capitalization of $383.56 million, a price-to-earnings ratio of -5.15 and a beta of 1.64.

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.