Ameriprise Financial Inc. Has $6.73 Million Holdings in ThredUp Inc. (NASDAQ:TDUP)

Ameriprise Financial Inc. cut its holdings in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,838,066 shares of the company's stock after selling 971,140 shares during the period. Ameriprise Financial Inc. owned 4.25% of ThredUp worth $6,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TDUP. Virtu Financial LLC acquired a new position in ThredUp during the 4th quarter valued at about $33,000. O Shaughnessy Asset Management LLC acquired a new position in ThredUp during the 4th quarter valued at about $64,000. Wells Fargo & Company MN lifted its position in ThredUp by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock valued at $80,000 after purchasing an additional 13,941 shares during the period. Barclays PLC lifted its position in ThredUp by 278.7% during the 3rd quarter. Barclays PLC now owns 104,018 shares of the company's stock valued at $87,000 after purchasing an additional 76,553 shares during the period. Finally, XTX Topco Ltd acquired a new position in ThredUp during the 4th quarter valued at about $105,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Performance

Shares of NASDAQ:TDUP opened at $7.50 on Friday. The company has a market capitalization of $886.85 million, a price-to-earnings ratio of -11.72 and a beta of 1.51. The firm's 50 day simple moving average is $4.15 and its 200 day simple moving average is $2.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $7.58.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. As a group, sell-side analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TDUP shares. Telsey Advisory Group upped their target price on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $7.50 price target (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Thursday.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 49,007 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $2.24, for a total transaction of $109,775.68. Following the sale, the director now directly owns 250,956 shares in the company, valued at approximately $562,141.44. This trade represents a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 811,860 shares of company stock worth $2,592,099. Company insiders own 27.00% of the company's stock.

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.

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