American Century Companies Inc. Invests $57,000 in ThredUp Inc. $TDUP

American Century Companies Inc. bought a new position in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 23,650 shares of the company's stock, valued at approximately $57,000.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp in the 1st quarter worth $25,000. CHICAGO TRUST Co NA purchased a new stake in shares of ThredUp in the 1st quarter worth $30,000. ProShare Advisors LLC lifted its holdings in shares of ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after buying an additional 7,287 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of ThredUp by 15.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock worth $58,000 after buying an additional 3,285 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of ThredUp during the 4th quarter worth $48,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

ThredUp Stock Performance

TDUP stock traded up $0.16 during trading on Thursday, hitting $10.96. 647,324 shares of the company traded hands, compared to its average volume of 1,933,060. The stock's 50-day simple moving average is $9.37 and its 200 day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.35 billion, a PE ratio of -22.36 and a beta of 1.75. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $12.28.

Analysts Set New Price Targets

TDUP has been the subject of a number of analyst reports. Telsey Advisory Group upped their price objective 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 restated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Wall Street Zen cut ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wells Fargo & Company increased their price target on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Finally, Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, ThredUp has a consensus rating of "Buy" and an average target price of $13.00.

Insider Activity at ThredUp

In other news, CFO Sean Sobers sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total value of $1,004,000.00. Following the completion of the sale, the chief financial officer directly owned 477,390 shares in the company, valued at $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the business's stock in a transaction that occurred 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 sale, the director owned 148,197 shares of the company's stock, valued at $1,603,491.54. This trade represents a 41.47% 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 company insiders.

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.