85,000 Shares in ThredUp Inc. $TDUP Bought by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC purchased 85,000 shares of ThredUp Inc. (NASDAQ:TDUP) valued at approximately $205,000 in the first quarter, representing a 0.07% ownership stake in the company.
• Insider trading activity shows that CFO Sean Sobers sold 100,000 shares and Director Coretha M. Rushing sold 105,000 shares in August, reflecting significant decreases in their respective ownership stakes.
• Research firms have mixed ratings on ThredUp, with a consensus rating of "Buy" and an average price target of $13.00, following upgrades in price objectives by several firms.

Bosun Asset Management LLC purchased a new stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 85,000 shares of the company's stock, valued at approximately $205,000. Bosun Asset Management LLC owned about 0.07% of ThredUp at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its stake 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 purchasing an additional 2,659 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of ThredUp by 15.9% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ThredUp by 9.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company's stock worth $63,000 after buying an additional 3,908 shares during the period. ProShare Advisors LLC boosted its holdings in shares of ThredUp by 49.0% during 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. Finally, Bank of New York Mellon Corp raised its stake in ThredUp by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 188,338 shares of the company's stock valued at $454,000 after purchasing an additional 9,254 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Trading Down 2.1%

TDUP traded down $0.23 during midday trading on Wednesday, reaching $10.51. 341,738 shares of the company were exchanged, compared to its average volume of 1,934,212. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp Inc. has a one year low of $0.50 and a one year high of $12.28. The stock has a market capitalization of $1.29 billion, a P/E ratio of -21.40 and a beta of 1.75. The stock's 50-day simple moving average is $9.30 and its 200 day simple moving average is $6.43.

Insider Transactions at ThredUp

In related news, CFO Sean Sobers sold 100,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 477,390 shares in the company, valued at approximately $4,792,995.60. This trade represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,603,491.54. The trade was 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 corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TDUP shares. Wells Fargo & Company boosted their price target on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Telsey Advisory Group boosted their target price on shares of ThredUp from $9.00 to $12.00 and gave the company 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. Northland Securities set a $14.00 target price on shares of ThredUp in a research note on Tuesday, August 5th. Finally, Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. One research 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.00.

ThredUp Company 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.