Simplicity Wealth LLC Purchases New Stake in ThredUp Inc. (NASDAQ:TDUP)

Simplicity Wealth LLC purchased a new stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 64,856 shares of the company's stock, valued at approximately $156,000. Simplicity Wealth LLC owned approximately 0.06% of ThredUp at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TDUP. Needham Investment Management LLC lifted its holdings in ThredUp by 2.7% during the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock worth $8,851,000 after buying an additional 167,500 shares during the period. FIL Ltd raised its position in shares of ThredUp by 0.8% during the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after acquiring an additional 27,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ThredUp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock worth $2,663,000 after acquiring an additional 26,326 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of ThredUp by 134.5% in the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock worth $2,114,000 after acquiring an additional 872,357 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after acquiring an additional 420,012 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

ThredUp Trading Up 3.8%

TDUP traded up $0.29 during trading on Tuesday, hitting $8.01. The company's stock had a trading volume of 3,178,960 shares, compared to its average volume of 1,191,797. The firm has a market capitalization of $947.18 million, a P/E ratio of -13.81 and a beta of 1.75. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $8.06. The stock's fifty day moving average price is $5.90 and its 200-day moving average price is $3.45. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.31.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The company had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative net margin of 22.41% and a negative return on equity of 77.03%. Analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Activity

In related news, Director Patricia Nakache sold 271,762 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $3.43, for a total value of $932,143.66. Following the completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at $860,779.08. The trade was a 51.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 762,853 shares of company stock worth $2,482,323. Company insiders own 27.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TDUP shares. Wells Fargo & Company restated an "overweight" rating and set a $7.50 price target (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th. Finally, Telsey Advisory Group increased their price target on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th.

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.