Acadian Asset Management LLC Acquires 279,799 Shares of ThredUp Inc. $TDUP

Key Points

• Acadian Asset Management LLC increased its holdings in ThredUp Inc. by 12.9%, owning approximately 2.07% of the company, valued at around $5.91 million.
• Several brokerages have recently adjusted their price targets for ThredUp, with Wells Fargo raising it from $10.00 to $13.00 and giving the stock an "overweight" rating.
• Insider selling activities were noted, with CFO Sean Sobers and Director Coretha M. Rushing selling a combined total of 155,000 shares in August, decreasing their ownership significantly.

Acadian Asset Management LLC raised its position in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,452,349 shares of the company's stock after purchasing an additional 279,799 shares during the quarter. Acadian Asset Management LLC owned approximately 2.07% of ThredUp worth $5,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC boosted its position in ThredUp by 39.2% during the first quarter. Jane Street Group LLC now owns 92,376 shares of the company's stock worth $223,000 after purchasing an additional 25,995 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of ThredUp during the 1st quarter worth about $332,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ThredUp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock worth $115,000 after buying an additional 2,034 shares in the last quarter. Bosun Asset Management LLC bought a new position in ThredUp in the first quarter worth $205,000. Finally, AQR Capital Management LLC increased its stake in ThredUp by 185.9% in the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company's stock valued at $228,000 after acquiring an additional 61,547 shares during the period. Institutional investors own 89.08% of the company's stock.

ThredUp Stock Up 3.8%

TDUP stock traded up $0.40 during mid-day trading on Monday, hitting $10.80. 1,652,785 shares of the company were exchanged, compared to its average volume of 2,141,691. The firm has a market cap of $1.33 billion, a P/E ratio of -22.04 and a beta of 1.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $12.28. The firm's 50 day simple moving average is $9.54 and its 200 day simple moving average is $6.69.

Insider Transactions at ThredUp

In related news, Director Coretha M. Rushing sold 105,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the transaction, the director owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This trade represents a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean Sobers sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total transaction of $1,004,000.00. Following the sale, the chief financial officer directly owned 477,390 shares in the company, valued at $4,792,995.60. This trade represents a 17.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TDUP has been the topic of several recent analyst reports. Northland Securities set a $14.00 target price on shares of ThredUp in a research note on Tuesday, August 5th. Telsey Advisory Group raised their price target on ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of ThredUp from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $13.00.

About ThredUp

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.