Nuveen LLC Acquires New Holdings in ThredUp Inc. $TDUP

Key Points

• Nuveen LLC has made a new investment in ThredUp Inc., acquiring 237,039 shares worth approximately $571,000, representing about 0.20% ownership of the company.
• Several institutional investors, such as Blair William & Co. and BloombergSen Inc., have significantly increased their stakes in ThredUp during the first quarter, indicating growing confidence in the company's performance.
• ThredUp shares opened at $10.56 and have fluctuated between a 12-month low of $0.50 and a high of $12.28, with analysts generally rating the stock as a "Buy" with a consensus price target of $13.00.

Nuveen LLC acquired a new stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 237,039 shares of the company's stock, valued at approximately $571,000. Nuveen LLC owned approximately 0.20% of ThredUp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of ThredUp in the 1st quarter worth approximately $25,000. CHICAGO TRUST Co NA acquired a new stake in shares of ThredUp during the first quarter worth $30,000. ProShare Advisors LLC grew its holdings in shares of 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 purchasing an additional 7,287 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp during the fourth quarter valued at about $48,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in ThredUp by 15.9% in 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 during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ThredUp news, Director Coretha M. Rushing sold 105,000 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $10.82, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sean Sobers sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $10.04, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer directly owned 427,390 shares in the company, valued at approximately $4,290,995.60. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,000 shares of company stock worth $2,642,100 over the last three months. Insiders own 27.00% of the company's stock.

ThredUp Stock Down 1.4%

TDUP traded down $0.16 during trading hours on Monday, hitting $11.44. 1,446,653 shares of the company's stock were exchanged, compared to its average volume of 1,933,388. The stock's 50-day moving average is $9.17 and its two-hundred day moving average is $6.34. 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 stock has a market cap of $1.41 billion, a price-to-earnings ratio of -23.32 and a beta of 1.75. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $12.28.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TDUP. Northland Securities set a $14.00 price objective on ThredUp in a research report on Tuesday, August 5th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Thursday. Wells Fargo & Company increased their price objective on ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Finally, Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target 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.