Ameriprise Financial Inc. lessened its stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,838,066 shares of the company's stock after selling 971,140 shares during the quarter. Ameriprise Financial Inc. owned 4.25% of ThredUp worth $6,725,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Barclays PLC raised its holdings in ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company's stock worth $87,000 after purchasing an additional 76,553 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ThredUp in the 4th quarter worth about $348,000. Virtu Financial LLC acquired a new position in ThredUp in the 4th quarter worth about $33,000. JPMorgan Chase & Co. raised its holdings in ThredUp by 450.6% in the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock worth $280,000 after purchasing an additional 165,115 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in ThredUp in the 4th quarter worth about $521,000. Institutional investors and hedge funds own 89.08% of the company's stock.
Wall Street Analyst Weigh In
TDUP has been the subject of a number of research analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $7.50 target price (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Telsey Advisory Group upped their price target on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered ThredUp from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th.
Get Our Latest Stock Analysis on ThredUp
Insider Transactions at ThredUp
In other news, Director Patricia Nakache sold 212,842 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $3.32, for a total transaction of $706,635.44. Following the completion of the transaction, the director now directly owns 250,956 shares in the company, valued at $833,173.92. This trade represents a 45.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 811,860 shares of company stock worth $2,592,099 over the last ninety days. Company insiders own 27.00% of the company's stock.
ThredUp Trading Down 0.2%
ThredUp stock traded down $0.01 during mid-day trading on Wednesday, hitting $7.35. The company's stock had a trading volume of 97,096 shares, compared to its average volume of 1,091,814. The firm has a market capitalization of $868.64 million, a PE ratio of -11.49 and a beta of 1.51. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $7.61. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average is $4.45 and its two-hundred day moving average is $2.80.
ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. The business had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. On average, analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.
About ThredUp
(
Free Report)
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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