Dynamic Technology Lab Private Ltd Invests $332,000 in ThredUp Inc. $TDUP

Key Points

• Dynamic Technology Lab Private Ltd has invested $332,000 in ThredUp Inc., acquiring 137,964 shares, which represent 0.12% of the company.
• Several institutional investors have significantly increased their positions in ThredUp, with BloombergSen Inc. now owning over 1.2 million shares after a 98.5% increase.
• Analysts have a consensus price target of $13.00 for ThredUp, with multiple ratings upgraded in recent reports, including a "strong-buy" from Northland Capital.

Dynamic Technology Lab Private Ltd purchased a new position in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 137,964 shares of the company's stock, valued at approximately $332,000. Dynamic Technology Lab Private Ltd owned about 0.12% of ThredUp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 purchasing an additional 2,034 shares during the last quarter. Bosun Asset Management LLC acquired a new position in shares of ThredUp during the 1st quarter worth $205,000. AQR Capital Management LLC increased its stake in shares of ThredUp by 185.9% during the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company's stock worth $228,000 after purchasing an additional 61,547 shares during the last quarter. 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. Finally, MYDA Advisors LLC acquired a new position in shares of ThredUp during the 1st quarter worth $386,000. Institutional investors and hedge funds own 89.08% of the company's stock.

ThredUp Stock Performance

ThredUp stock traded up $0.21 during mid-day trading on Thursday, reaching $10.66. The company had a trading volume of 1,775,918 shares, compared to its average volume of 2,226,971. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $12.28. The company has a 50 day moving average of $9.76 and a 200-day moving average of $6.80. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -21.76 and a beta of 1.75.

Insiders Place Their Bets

In other ThredUp news, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the sale, the director directly owned 148,197 shares of the company's stock, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean Sobers sold 50,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer directly owned 427,390 shares of the company's stock, valued at approximately $4,290,995.60. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,000 shares of company stock valued at $2,642,100. Insiders own 27.00% of the company's stock.

Analyst Upgrades and Downgrades

TDUP has been the topic of several analyst reports. Northland Securities set a $14.00 price target on shares of ThredUp in a research note on Tuesday, August 5th. Telsey Advisory Group raised 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. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Wells Fargo & Company raised their target price on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $13.00.

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.