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

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDUP. Victory Capital Management Inc. acquired a new position in ThredUp during the first quarter worth $25,000. CHICAGO TRUST Co NA acquired a new position in ThredUp during the first quarter worth $30,000. ProShare Advisors LLC raised its stake in ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after acquiring an additional 7,287 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp in the fourth quarter valued at $48,000. Finally, American Century Companies Inc. acquired a new stake in shares of ThredUp in the first quarter valued at $57,000. 89.08% of the stock is owned by institutional investors.

ThredUp Trading Down 4.8%

Shares of TDUP stock traded down $0.52 on Friday, hitting $10.40. The company had a trading volume of 1,236,670 shares, compared to its average volume of 1,934,864. The firm has a market cap of $1.28 billion, a P/E ratio of -21.22 and a beta of 1.75. The stock's 50-day moving average is $9.43 and its two-hundred day moving average is $6.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $12.28.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TDUP. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Wells Fargo & Company raised their price target on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Wall Street Zen cut ThredUp from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Telsey Advisory Group lifted their target price on ThredUp from $9.00 to $12.00 and gave the company an "outperform" 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.00.

Insider Activity

In other news, CFO Sean Sobers sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 427,390 shares of the company's stock, valued at $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 148,197 shares of the company's stock, valued at $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,000 shares of company stock worth $2,642,100. 27.00% of the stock is owned by corporate insiders.

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.