Squarepoint Ops LLC Sells 90,633 Shares of ThredUp Inc. (NASDAQ:TDUP)

Squarepoint Ops LLC lessened its position in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,195 shares of the company's stock after selling 90,633 shares during the quarter. Squarepoint Ops LLC owned about 0.22% of ThredUp worth $355,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TDUP. Marshall Wace LLP lifted its position in ThredUp by 134.5% during the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after purchasing an additional 872,357 shares during the period. BloombergSen Inc. lifted its holdings in ThredUp by 278.9% in the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock valued at $889,000 after buying an additional 470,768 shares during the period. Renaissance Technologies LLC boosted its stake 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. Arrowstreet Capital Limited Partnership bought a new position in ThredUp in the fourth quarter valued at approximately $521,000. Finally, Archon Capital Management LLC bought a new position in ThredUp in the fourth quarter valued at approximately $461,000. Institutional investors own 89.08% of the company's stock.

Insider Activity

In other news, Director Patricia Nakache sold 271,762 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $3.43, for a total value of $932,143.66. Following the sale, the director now directly owns 250,956 shares of the company's stock, valued at approximately $860,779.08. This represents a 51.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 811,860 shares of company stock worth $2,592,099 over the last ninety days. Insiders own 27.00% of the company's stock.

Wall Street Analyst Weigh In

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

ThredUp Stock Down 0.8%

TDUP traded down $0.06 during trading on Monday, hitting $7.66. The company had a trading volume of 1,647,377 shares, compared to its average volume of 1,149,476. The company has a market capitalization of $905.77 million, a PE ratio of -11.97 and a beta of 1.75. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a one year low of $0.50 and a one year high of $7.88. The firm's 50-day moving average price is $5.22 and its 200 day moving average price is $3.17.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.04) 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 analyst estimates of $67.54 million. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. As a group, equities analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current year.

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.