Jacobs Levy Equity Management Inc. Decreases Position 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. cut its position in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557,327 shares of the company's stock after selling 204,342 shares during the period. Jacobs Levy Equity Management Inc. owned 0.47% of ThredUp worth $1,343,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in ThredUp in the first quarter worth approximately $25,000. CHICAGO TRUST Co NA acquired a new position in shares of ThredUp during the first quarter worth approximately $30,000. ProShare Advisors LLC lifted its holdings in shares of ThredUp by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after purchasing an additional 7,287 shares in the last quarter. American Century Companies Inc. acquired a new stake in ThredUp in the 1st quarter valued at $57,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in ThredUp by 15.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock valued at $58,000 after purchasing an additional 3,285 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ThredUp

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

ThredUp Stock Up 2.5%

TDUP stock traded up $0.25 during trading on Wednesday, reaching $10.45. The stock had a trading volume of 2,065,888 shares, compared to its average volume of 2,190,259. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -21.33 and a beta of 1.75. ThredUp Inc. has a one year low of $0.50 and a one year high of $12.28. The company's 50 day moving average is $9.68 and its two-hundred day moving average is $6.74.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. Wells Fargo & Company lifted their price target on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Telsey Advisory Group increased their price objective on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Northland Securities set a $14.00 target price on ThredUp in a research report on Tuesday, August 5th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus 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.