Blair William & Co. IL Increases Holdings in ThredUp Inc. (NASDAQ:TDUP)

Key Points

• Blair William & Co. IL increased its holdings in ThredUp Inc. by 46.3% in Q1, now owning approximately 2.56% of the company with holdings valued at $7.15 million.
• ThredUp's latest earnings report showed a beat on EPS, reporting ($0.04) against expectations of ($0.07), and revenue of $71.29 million exceeding forecasts of $67.54 million.
• Analysts have a consensus rating of "Buy" for ThredUp, with price targets ranging from $9.00 to $13.00, reflecting growing investor confidence in the company's prospects.

Blair William & Co. IL boosted its stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 46.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,969,725 shares of the company's stock after buying an additional 939,449 shares during the period. Blair William & Co. IL owned 2.56% of ThredUp worth $7,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in ThredUp in the first quarter worth about $25,000. CHICAGO TRUST Co NA purchased a new stake in ThredUp in the first quarter worth about $30,000. ProShare Advisors LLC lifted its holdings in ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after buying an additional 7,287 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in ThredUp by 15.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock worth $58,000 after buying an additional 3,285 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in ThredUp in the fourth quarter worth about $48,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Wells Fargo & Company raised their price objective on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday. Northland Securities set a $14.00 target price on ThredUp in a report on Tuesday. Finally, Telsey Advisory Group raised their price target on ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $13.00.

Insider Transactions at ThredUp

In related news, CFO Sean Sobers sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total value of $1,004,000.00. Following the transaction, the chief financial officer directly owned 477,390 shares of the company's stock, valued at approximately $4,792,995.60. This represents a 17.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 27.00% of the company's stock.

ThredUp Stock Up 1.0%

NASDAQ TDUP traded up $0.10 during mid-day trading on Friday, reaching $10.00. The stock had a trading volume of 2,736,043 shares, compared to its average volume of 2,338,225. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $11.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.92. The company has a fifty day moving average price of $7.86 and a 200 day moving average price of $5.06.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data 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 return on equity of 71.49% and a negative net margin of 19.66%. Analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

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.