Two Sigma Investments LP Acquires 68,790 Shares of ThredUp Inc. (NASDAQ:TDUP)

Two Sigma Investments LP raised its holdings in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 150.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,632 shares of the company's stock after acquiring an additional 68,790 shares during the quarter. Two Sigma Investments LP owned approximately 0.10% of ThredUp worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in ThredUp by 14.7% in the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock worth $166,000 after purchasing an additional 15,307 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 last quarter. PEAK6 LLC purchased a new position in shares of ThredUp in the fourth quarter worth $228,000. BloombergSen Inc. boosted its position in shares of ThredUp by 278.9% during the fourth quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after acquiring an additional 470,768 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of ThredUp by 450.6% during the fourth quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock worth $280,000 after acquiring an additional 165,115 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

ThredUp Price Performance

TDUP traded down $0.14 during trading hours on Friday, hitting $7.30. The company's stock had a trading volume of 2,350,286 shares, compared to its average volume of 1,170,283. The stock has a market cap of $863.20 million, a price-to-earnings ratio of -11.41 and a beta of 1.75. The business's 50-day moving average price is $5.62 and its 200-day moving average price is $3.31. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $7.92.

ThredUp (NASDAQ:TDUP - Get Free Report) last announced its earnings results 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 firm had revenue of $71.29 million for the quarter, compared to analysts' expectations of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. Sell-side analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Telsey Advisory Group lifted their price target on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $7.50 price target (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

Insider Activity at ThredUp

In other news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $2.48, for a total value of $225,853.60. Following the sale, the director now owns 250,956 shares of the company's stock, valued at approximately $622,370.88. This represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 811,860 shares of company stock worth $2,592,099. Company insiders own 27.00% of the company's stock.

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.