BloombergSen Inc. increased its holdings in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 98.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,269,649 shares of the company's stock after purchasing an additional 630,101 shares during the quarter. ThredUp makes up approximately 0.2% of BloombergSen Inc.'s holdings, making the stock its 18th largest holding. BloombergSen Inc. owned about 1.09% of ThredUp worth $3,060,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TDUP. Needham Investment Management LLC lifted 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 buying an additional 167,500 shares during the period. FIL Ltd lifted its position in ThredUp by 0.8% during the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock valued at $4,726,000 after buying an additional 27,000 shares during the period. Geode Capital Management LLC lifted its position in ThredUp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock valued at $2,663,000 after buying an additional 26,326 shares during the period. Marshall Wace LLP lifted its position in ThredUp by 134.5% during the fourth quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after buying an additional 872,357 shares during the period. Finally, Renaissance Technologies LLC lifted its position in ThredUp by 75.2% during the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after buying an additional 420,012 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on TDUP shares. Telsey Advisory Group upped their price objective on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Northland Capmk raised ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Wells Fargo & Company reiterated an "overweight" rating and issued a $7.50 price objective (up from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Northland Securities initiated coverage on shares of ThredUp in a research note on Monday, July 21st. They set an "outperform" rating and a $9.00 target price on the stock. Finally, Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $7.83.
Read Our Latest Stock Analysis on TDUP
ThredUp Price Performance
Shares of TDUP traded down $0.31 during mid-day trading on Friday, hitting $7.69. 1,487,713 shares of the stock were exchanged, compared to its average volume of 2,264,100. The firm has a 50-day moving average of $7.58 and a two-hundred day moving average of $4.63. ThredUp Inc. has a 52-week low of $0.50 and a 52-week high of $8.74. The company has a market cap of $909.32 million, a PE ratio of -13.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92.
ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data 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. ThredUp had a negative return on equity of 77.03% and a negative net margin of 22.41%. The company had revenue of $71.29 million during the quarter, compared to analysts' expectations of $67.54 million. On average, equities analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current year.
ThredUp Company Profile
(
Free Report)
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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