Simplicity Wealth LLC Boosts Holdings in ThredUp Inc. $TDUP

Key Points

• Simplicity Wealth LLC increased its stake in ThredUp by 93.6% in the second quarter, holding 125,586 shares worth $941,000 after acquiring an additional 60,730 shares.
• ThredUp's stock has a twelve-month high of $12.28 and a low of $0.50, with current trading starting at $9.01.
• A mix of analysts have recently downgraded and upgraded ThredUp, leading to an average rating of "Moderate Buy" with a target price of $13.00.

Simplicity Wealth LLC lifted its stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 93.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,586 shares of the company's stock after acquiring an additional 60,730 shares during the period. Simplicity Wealth LLC owned 0.11% of ThredUp worth $941,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new position in ThredUp during the second quarter worth approximately $96,000. Byrne Asset Management LLC purchased a new stake in shares of ThredUp during the 2nd quarter valued at $974,000. Voya Investment Management LLC acquired a new stake in ThredUp during the first quarter worth about $51,000. Rhumbline Advisers raised its holdings in shares of ThredUp by 3.0% in the 1st quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock worth $241,000 after purchasing an additional 2,928 shares during the period. Finally, Diker Management LLC lifted its stake in shares of ThredUp by 5.6% in the 1st quarter. Diker Management LLC now owns 125,155 shares of the company's stock valued at $302,000 after purchasing an additional 6,655 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Price Performance

TDUP opened at $9.01 on Tuesday. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $12.28. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -18.39 and a beta of 1.71. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $10.21 and a 200 day simple moving average of $7.46.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TDUP shares. Weiss Ratings reissued a "sell (e+)" rating on shares of ThredUp in a research report on Saturday, September 27th. Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Thursday, September 4th. Wells Fargo & Company lifted their target price on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen downgraded ThredUp from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.00.

Insider Activity

In other news, CFO Sean Sobers sold 50,000 shares of ThredUp stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $10.04, for a total transaction of $502,000.00. Following the sale, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Coretha M. Rushing sold 105,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 148,197 shares of the company's stock, valued at $1,603,491.54. This represents a 41.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock valued at $2,642,100 over the last 90 days. Insiders own 27.00% of the company's stock.

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.

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