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

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Needham Investment Management LLC grew its position in ThredUp by 2.7% during the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock valued at $8,851,000 after acquiring an additional 167,500 shares during the last quarter. FIL Ltd grew its holdings in shares of ThredUp by 0.8% in the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after purchasing an additional 27,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ThredUp by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock worth $2,663,000 after purchasing an additional 26,326 shares during the last quarter. Marshall Wace LLP grew its holdings 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 purchasing an additional 872,357 shares during the last quarter. Finally, BloombergSen Inc. grew its holdings in shares of ThredUp by 98.5% in the first quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock worth $3,060,000 after purchasing an additional 630,101 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Activity at ThredUp

In other news, CFO Sean Sobers sold 50,000 shares of the business'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 sale, the chief financial officer owned 427,390 shares in the company, valued at approximately $4,290,995.60. The trade was a 10.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 27.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TDUP. 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 shares of ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Northland Securities set a $14.00 target price on shares of ThredUp in a report on Tuesday. Telsey Advisory Group lifted their price target on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company lifted their price target on shares of ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $13.00.

ThredUp Trading Up 1.0%

NASDAQ:TDUP traded up $0.10 during trading hours on Friday, hitting $10.00. The company had a trading volume of 2,736,043 shares, compared to its average volume of 2,338,225. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $11.00. The company has a market capitalization of $1.18 billion, a PE ratio of -20.41 and a beta of 1.73. 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 stock has a 50-day moving average price of $7.92 and a 200 day moving average price of $5.14.

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.