MetLife Investment Management LLC Acquires New Shares in ThredUp Inc. $TDUP

Key Points

• MetLife Investment Management LLC invested approximately $120,000 in ThredUp Inc. by purchasing 49,903 shares, marking their entry into the company's stock.
• Insider activity has been notable, with CFO Sean Sobers and Director Coretha M. Rushing both selling significant shares recently, leading to a decrease in their ownership percentages.
• ThredUp's stock has received mixed ratings from analysts; while some have upgraded it to "strong-buy," others have downgraded it, reflecting varying outlooks on its future performance.

MetLife Investment Management LLC purchased a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,903 shares of the company's stock, valued at approximately $120,000.

Other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP boosted its stake in ThredUp by 150.1% in the 4th quarter. Two Sigma Investments LP now owns 114,632 shares of the company's stock valued at $159,000 after buying an additional 68,790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in ThredUp by 122.4% in 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 buying an additional 306,572 shares in the last quarter. Barclays PLC boosted its stake in ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock valued at $166,000 after buying an additional 15,307 shares in the last quarter. BloombergSen Inc. boosted its stake in ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after buying an additional 630,101 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in ThredUp in the 1st quarter valued at $571,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Ratings Changes

TDUP has been the subject of several research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Thursday, September 4th. Wall Street Zen downgraded ThredUp from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Telsey Advisory Group lifted their price objective on ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company lifted their price objective on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, August 5th. One research 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, the company presently has a consensus rating of "Buy" and an average target price of $13.00.

Insiders Place Their Bets

In other news, 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 transaction 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. The trade was a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean Sobers sold 50,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following 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 90 days, insiders have sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by corporate insiders.

ThredUp Trading Down 4.8%

Shares of TDUP stock traded down $0.52 on Friday, reaching $10.40. 1,237,628 shares of the stock were exchanged, compared to its average volume of 2,141,691. The stock has a market cap of $1.28 billion, a PE ratio of -21.22 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 has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a 50 day moving average price of $9.48 and a 200 day moving average price of $6.63.

About ThredUp

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.