American Century Companies Inc. Acquires New Shares in ThredUp Inc. $TDUP

American Century Companies Inc. acquired a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,650 shares of the company's stock, valued at approximately $57,000.

A number of other hedge funds also recently made changes to their positions in the business. Informed Momentum Co LLC acquired a new stake in shares of ThredUp in the first quarter valued at approximately $751,000. Nuveen LLC acquired a new stake in shares of ThredUp in the first quarter valued at approximately $571,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ThredUp by 122.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company's stock valued at $1,342,000 after buying an additional 306,572 shares during the last quarter. Blair William & Co. IL increased its stake in shares of ThredUp by 46.3% during the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock worth $7,157,000 after purchasing an additional 939,449 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of ThredUp by 15.9% during 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 during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ThredUp

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

ThredUp Price Performance

NASDAQ TDUP traded down $0.52 during midday trading on Friday, hitting $10.40. The company had a trading volume of 1,237,628 shares, compared to its average volume of 2,130,977. The company has a market capitalization of $1.28 billion, a PE ratio of -21.22 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. The firm has a 50-day moving average price of $9.48 and a 200-day moving average price of $6.57. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $12.28.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TDUP shares. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Wall Street Zen lowered ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Northland Securities set a $14.00 target price on ThredUp in a research note on Tuesday, August 5th. Finally, Telsey Advisory Group increased their target price on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $13.00.

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.