Northern Trust Corp Increases Stake in ThredUp Inc. (NASDAQ:TDUP)

Northern Trust Corp raised its stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 733,725 shares of the company's stock after purchasing an additional 84,353 shares during the quarter. Northern Trust Corp owned approximately 0.64% of ThredUp worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of ThredUp in the 4th quarter worth about $33,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of ThredUp in the 4th quarter worth about $64,000. Wells Fargo & Company MN grew its position in shares of ThredUp by 32.1% in the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock worth $80,000 after buying an additional 13,941 shares during the period. XTX Topco Ltd purchased a new stake in shares of ThredUp in the 4th quarter worth about $105,000. Finally, Barclays PLC grew its position in shares of ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock worth $166,000 after buying an additional 15,307 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Stock Up 0.6%

TDUP stock traded up $0.04 during trading on Monday, hitting $7.24. 2,253,964 shares of the stock traded hands, compared to its average volume of 1,115,119. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $7.61. The firm's 50 day moving average is $4.82 and its two-hundred day moving average is $2.99. The stock has a market cap of $856.11 million, a price-to-earnings ratio of -11.31 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $71.29 million for the quarter, compared to analysts' expectations of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. On average, sell-side analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $2.48, for a total value of $225,853.60. Following the completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at approximately $622,370.88. This represents a 26.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 811,860 shares of company stock worth $2,592,099 in the last quarter. Company insiders own 27.00% of the company's stock.

Analyst Upgrades and Downgrades

TDUP has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $7.50 target price (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of ThredUp from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Telsey Advisory Group increased their price objective on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th.

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.