81,417 Shares in ThredUp Inc. (NASDAQ:TDUP) Purchased by Millennium Management LLC

Millennium Management LLC purchased a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,417 shares of the company's stock, valued at approximately $113,000. Millennium Management LLC owned about 0.07% of ThredUp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TDUP. Virtu Financial LLC bought a new position in shares of ThredUp during the fourth quarter worth about $33,000. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp during the fourth quarter worth about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ThredUp by 9.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company's stock worth $63,000 after purchasing an additional 3,908 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of ThredUp during the fourth quarter worth about $64,000. Finally, Wells Fargo & Company MN lifted its holdings in ThredUp by 32.1% in 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 during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Trading Down 1.9%

Shares of NASDAQ:TDUP opened at $7.30 on Friday. The firm has a fifty day moving average of $5.71 and a two-hundred day moving average of $3.35. The firm has a market capitalization of $863.20 million, a P/E ratio of -11.41 and a beta of 1.75. ThredUp Inc. has a 12-month low of $0.50 and a 12-month high of $7.92. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. On average, equities analysts expect that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Telsey Advisory Group lifted their price target on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $7.50 price target (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th.

Insider Activity

In other ThredUp news, Director Patricia Nakache sold 49,007 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $2.24, for a total value of $109,775.68. Following the transaction, the director now directly owns 250,956 shares in the company, valued at $562,141.44. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 811,860 shares of company stock worth $2,592,099. Corporate insiders own 27.00% of the company's stock.

ThredUp 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.

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