Bosun Asset Management LLC Buys New Shares in ThredUp Inc. $TDUP

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 bought a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 85,000 shares of the company's stock, valued at approximately $205,000. Bosun Asset Management LLC owned 0.07% of ThredUp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in ThredUp by 185.9% in the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company's stock valued at $228,000 after purchasing an additional 61,547 shares during the period. Cubist Systematic Strategies LLC grew its stake in ThredUp by 7.6% during the first 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 during the period. MYDA Advisors LLC purchased a new stake in ThredUp during the first quarter worth approximately $386,000. Ieq Capital LLC grew its stake in ThredUp by 70.0% during the first quarter. Ieq Capital LLC now owns 32,655 shares of the company's stock worth $79,000 after buying an additional 13,447 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in ThredUp during the first quarter worth approximately $120,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TDUP. Northland Securities set a $14.00 price objective on shares of ThredUp in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Telsey Advisory Group boosted their price objective on shares of ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on shares of ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.00.

ThredUp Trading Up 10.9%

NASDAQ TDUP opened at $11.71 on Friday. The company's fifty day simple moving average is $9.09 and its 200-day simple moving average is $6.23. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $12.28. 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 stock has a market cap of $1.44 billion, a P/E ratio of -23.90 and a beta of 1.75.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 100,000 shares of the company's 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 sale, the chief financial officer directly owned 477,390 shares of the company's stock, valued at $4,792,995.60. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Coretha M. Rushing sold 105,000 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,136,100.00. Following the completion of the sale, the director directly owned 148,197 shares in the company, valued at $1,603,491.54. This represents a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,000 shares of company stock worth $2,642,100. Corporate insiders own 27.00% of the company's stock.

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.

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