Tocqueville Asset Management L.P. Invests $2.34 Million in ThredUp Inc. $TDUP

Key Points

• Tocqueville Asset Management has acquired a new stake in ThredUp Inc., purchasing 970,000 shares valued at approximately $2.34 million, representing about 0.83% of the company.
• Multiple institutional investors have significantly raised their positions in ThredUp, with JPMorgan Chase increasing its stake by 450.6% during the last quarter.
• ThredUp's stock has received positive ratings from analysts, with an average "Buy" rating and a consensus target price of $13.00.

Tocqueville Asset Management L.P. bought a new stake in ThredUp Inc. (NASDAQ:TDUP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 970,000 shares of the company's stock, valued at approximately $2,338,000. Tocqueville Asset Management L.P. owned 0.83% of ThredUp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TDUP. Blair William & Co. IL lifted its holdings in ThredUp by 46.3% in the first quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after acquiring an additional 939,449 shares during the period. Marshall Wace LLP lifted its position in shares of 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 buying an additional 872,357 shares in the last quarter. BloombergSen Inc. lifted its position in shares of ThredUp by 98.5% during the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after buying an additional 630,101 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of ThredUp by 75.2% during the 4th 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 in the last quarter. Finally, Informed Momentum Co LLC purchased a new position in shares of ThredUp during the 1st quarter valued at about $751,000. Institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TDUP shares. Wells Fargo & Company lifted their price objective on ThredUp from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Northland Securities set a $14.00 price objective on ThredUp in a research note on Tuesday, August 5th. Northland Capmk raised ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Wall Street Zen raised ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Telsey Advisory Group lifted their price objective on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $13.00.

ThredUp Stock Up 4.7%

Shares of TDUP stock traded up $0.52 during mid-day trading on Friday, hitting $11.68. The stock had a trading volume of 2,994,563 shares, compared to its average volume of 2,401,961. ThredUp Inc. has a 12-month low of $0.50 and a 12-month high of $11.78. The firm has a market capitalization of $1.44 billion, a P/E ratio of -23.84 and a beta of 1.73. The firm's 50-day moving average is $8.54 and its two-hundred day moving average is $5.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96.

Insider Activity at ThredUp

In other news, CFO Sean Sobers sold 100,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 477,390 shares of the company's stock, valued at approximately $4,792,995.60. The trade was a 17.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 27.00% of the company's stock.

ThredUp 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.