BloombergSen Inc. Has $8.14 Million Position in ThredUp Inc. $TDUP

Key Points

• BloombergSen Inc. increased its ThredUp stake by 44.7% in the fourth quarter, ending with 1,274,289 shares worth about $8.14 million. The holding represents roughly 1.02% of ThredUp and 0.6% of the fund’s portfolio.
• ThredUp reported quarterly earnings of ($0.05) per share, matching estimates, while revenue of $81.67 million slightly topped expectations. The company remains unprofitable, with a negative net margin and negative return on equity.
• Insider activity was mixed: CFO Sean Sobers sold 56,504 shares, while Director Patricia Nakache bought 13,157 shares. Meanwhile, analysts currently rate the stock Moderate Buy on average, with a consensus price target of $9.14.

BloombergSen Inc. boosted its stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 44.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,274,289 shares of the company's stock after acquiring an additional 393,385 shares during the period. ThredUp accounts for 0.6% of BloombergSen Inc.'s investment portfolio, making the stock its 15th largest holding. BloombergSen Inc. owned about 1.02% of ThredUp worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in ThredUp by 6.7% in the second quarter. Cerity Partners LLC now owns 19,011 shares of the company's stock valued at $142,000 after acquiring an additional 1,190 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ThredUp by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company's stock worth $234,000 after buying an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company's stock worth $115,000 after buying an additional 2,034 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of ThredUp by 7.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company's stock worth $90,000 after buying an additional 2,659 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of ThredUp by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 89,510 shares of the company's stock worth $846,000 after purchasing an additional 2,900 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Activity

In other ThredUp news, CFO Sean Sobers sold 56,504 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $215,845.28. Following the completion of the sale, the chief financial officer directly owned 555,254 shares in the company, valued at approximately $2,121,070.28. The trade was a 9.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Nakache acquired 13,157 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $3.73 per share, with a total value of $49,075.61. Following the completion of the purchase, the director owned 14,017 shares in the company, valued at $52,283.41. This represents a 1,529.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 23.10% of the company's stock.

ThredUp Trading Down 3.4%

Shares of NASDAQ:TDUP opened at $4.29 on Friday. ThredUp Inc. has a 12-month low of $3.08 and a 12-month high of $12.28. The business's fifty day simple moving average is $3.95 and its 200-day simple moving average is $5.41. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $553.58 million, a PE ratio of -26.81 and a beta of 2.07.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%.The firm had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. As a group, equities research analysts predict that ThredUp Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

TDUP has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ThredUp in a research report on Friday, March 27th. TD Cowen upped their target price on ThredUp from $5.00 to $5.70 and gave the company a "buy" rating in a report on Tuesday, May 5th. Telsey Advisory Group reduced their price target on ThredUp from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company lowered their target price on ThredUp from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ThredUp presently has an average rating of "Moderate Buy" and a consensus price target of $9.14.

ThredUp Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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