CI Investments Inc. Buys Shares of 1,810,000 ThredUp Inc. $TDUP

Key Points

• CI Investments Inc. bought a new stake of 1.81 million shares in ThredUp during the first quarter, valued at about $5.94 million, and now owns 1.40% of the company.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 89.08% of ThredUp shares. Several other firms also added small new positions, while Meeder Asset Management significantly increased its stake.
• Analyst sentiment is mixed but leans positive: ThredUp has an average “Moderate Buy” rating and a consensus price target of $9.14, though some firms have recently cut targets and Weiss Ratings reiterated a sell rating.

CI Investments Inc. purchased a new stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 1,810,000 shares of the company's stock, valued at approximately $5,937,000. CI Investments Inc. owned 1.40% of ThredUp at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of ThredUp in the 2nd quarter worth approximately $32,000. R Squared Ltd acquired a new position in ThredUp during the first quarter worth $34,000. Quarry LP purchased a new stake in ThredUp during the third quarter worth $37,000. Abel Hall LLC purchased a new stake in ThredUp during the first quarter worth $39,000. Finally, Meeder Asset Management Inc. grew its holdings in ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company's stock valued at $41,000 after purchasing an additional 5,424 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ThredUp in a research note on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on shares of ThredUp from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. TD Cowen raised their target price on shares of ThredUp from $5.00 to $5.70 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Telsey Advisory Group cut their target price on shares of ThredUp from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $9.14.

ThredUp Stock Performance

NASDAQ TDUP opened at $5.74 on Friday. The business's 50-day moving average price is $5.63 and its 200 day moving average price is $4.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. ThredUp Inc. has a twelve month low of $3.08 and a twelve month high of $12.28. The company has a market capitalization of $740.69 million, a PE ratio of -35.88 and a beta of 1.97.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The company had revenue of $81.67 million during the quarter, compared to the consensus estimate of $80.17 million. On average, research analysts predict that ThredUp Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 61,578 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the sale, the chief operating officer directly owned 1,301,843 shares in the company, valued at $5,767,164.49. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total value of $201,804.22. Following the completion of the transaction, the chief financial officer owned 572,523 shares in the company, valued at approximately $2,536,276.89. This trade represents a 7.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is owned by insiders.

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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