Jacobs Levy Equity Management Inc. Cuts Stock Holdings in ThredUp Inc. $TDUP

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in ThredUp Inc. by 26.8%, now owning 557,327 shares valued at approximately $1.34 million.
• Other institutional investors have made movements in ThredUp, including Bank of America increasing its holdings by 42.6%.
• Despite recent stock fluctuations, analysts have varying price targets for ThredUp, with some now set between $12.00 and $14.00.

Jacobs Levy Equity Management Inc. trimmed its position in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,327 shares of the company's stock after selling 204,342 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.47% of ThredUp worth $1,343,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TDUP. Northern Trust Corp increased its holdings in shares of ThredUp by 13.0% during the 4th quarter. Northern Trust Corp now owns 733,725 shares of the company's stock valued at $1,020,000 after purchasing an additional 84,353 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company's stock valued at $108,000 after purchasing an additional 23,156 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of ThredUp during the 4th quarter valued at approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $63,000 after purchasing an additional 3,908 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of ThredUp during the 4th quarter valued at approximately $113,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Price Performance

ThredUp stock opened at $10.92 on Friday. The company has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $6.52. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -22.29 and a beta of 1.75. 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TDUP shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Thursday, September 4th. Telsey Advisory Group lifted their price target 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. Wells Fargo & Company lifted their price target 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. Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Northland Securities set a $14.00 price target on shares of ThredUp in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.00.

Insider Activity

In other news, Director Coretha M. Rushing sold 105,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 148,197 shares of the company's stock, valued at approximately $1,603,491.54. This trade represents a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sean Sobers sold 100,000 shares of the firm's 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 represents a 17.32% 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 worth $2,642,100. 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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