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 ThredUp Inc. (NASDAQ:TDUP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 137,964 shares of the company's stock, valued at approximately $332,000. Dynamic Technology Lab Private Ltd owned 0.12% of ThredUp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Two Sigma Investments LP lifted its position in shares of ThredUp by 150.1% during the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after acquiring an additional 68,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ThredUp by 122.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,023 shares of the company's stock valued at $1,342,000 after acquiring an additional 306,572 shares during the period. BloombergSen Inc. lifted its position in shares of ThredUp by 98.5% during the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after acquiring an additional 630,101 shares during the period. Nuveen LLC acquired a new position in shares of ThredUp during the 1st quarter valued at $571,000. Finally, Informed Momentum Co LLC acquired a new position in shares of ThredUp during the 1st quarter valued at $751,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Buying and Selling at ThredUp

In other news, 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 value of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares in the company, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was 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 owned 427,390 shares of the company's stock, valued at approximately $4,290,995.60. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,000 shares of company stock valued at $2,642,100. Company insiders own 27.00% of the company's stock.

ThredUp Stock Performance

NASDAQ TDUP opened at $10.40 on Friday. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -21.22 and a beta of 1.75. The company has a fifty day moving average price of $9.48 and a 200-day moving average price of $6.57.

Wall Street Analysts Forecast Growth

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

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