ThredUp Inc. $TDUP Holdings Raised by Acadian Asset Management LLC

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

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in shares of ThredUp in the first quarter worth $25,000. CHICAGO TRUST Co NA bought a new position in shares of ThredUp in the first quarter worth $30,000. ProShare Advisors LLC grew its stake in shares of ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after purchasing an additional 7,287 shares in the last quarter. American Century Companies Inc. bought a new position in shares of ThredUp in the first quarter worth $57,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of ThredUp by 15.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock worth $58,000 after purchasing an additional 3,285 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ThredUp

In other news, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer directly owned 427,390 shares of the company's stock, valued at $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Coretha M. Rushing sold 105,000 shares of the company'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 sale, the director directly owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This represents a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TDUP. Northland Securities set a $14.00 price target on ThredUp in a research note on Tuesday, August 5th. Northland Capmk raised ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Telsey Advisory Group increased their price target on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Wells Fargo & Company raised their target price on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $13.00.

ThredUp Price Performance

TDUP stock traded up $0.21 during trading hours on Thursday, hitting $10.66. 1,775,918 shares of the stock traded hands, compared to its average volume of 2,226,971. The stock has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $6.80. ThredUp Inc. has a one year low of $0.50 and a one year high of $12.28. The company has a market cap of $1.31 billion, a P/E ratio of -21.76 and a beta of 1.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27.

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.