Zweig DiMenna Associates LLC Takes Position in ThredUp Inc. $TDUP

Key Points

• Zweig DiMenna Associates LLC disclosed a new fourth-quarter stake in ThredUp, buying 538,500 shares worth about $3.44 million. The position represented roughly 0.43% of the company.
• ThredUp shares were down 2.5% and opened at $4.65, with the stock trading near the lower end of its 52-week range of $3.08 to $12.28. The company’s market cap is about $600 million, and it remains unprofitable.
• Recent earnings were in line with expectations, as ThredUp reported EPS of -$0.05 on revenue of $81.67 million. Analysts currently have a Moderate Buy consensus with a target price of $9.14, though several firms recently trimmed their price targets.

Zweig DiMenna Associates LLC purchased a new stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 538,500 shares of the company's stock, valued at approximately $3,441,000. Zweig DiMenna Associates LLC owned about 0.43% of ThredUp as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of TDUP. Raymond James Financial Inc. bought a new position in shares of ThredUp during the second quarter valued at $32,000. Quarry LP bought a new position in shares of ThredUp during the third quarter valued at $37,000. Versor Investments LP bought a new position in shares of ThredUp during the fourth quarter valued at $70,000. Tower Research Capital LLC TRC raised its stake in shares of ThredUp by 110.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company's stock valued at $82,000 after acquiring an additional 5,744 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of ThredUp by 7.6% during the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company's stock valued at $90,000 after acquiring an additional 2,659 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

ThredUp Trading Down 2.5%

TDUP opened at $4.65 on Friday. ThredUp Inc. has a twelve month low of $3.08 and a twelve month high of $12.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $4.06 and a 200-day moving average of $5.28. The stock has a market cap of $600.04 million, a PE ratio of -29.06 and a beta of 2.07.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $81.67 million during the quarter, compared to analysts' expectations of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. On average, sell-side analysts predict that ThredUp Inc. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of ThredUp from $5.00 to $5.70 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Telsey Advisory Group decreased their price objective on shares of ThredUp from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Wells Fargo & Company decreased their price objective on shares of ThredUp from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of ThredUp in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.14.

Insiders Place Their Bets

In other ThredUp news, CFO Sean Sobers sold 56,504 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the completion of the sale, the chief financial officer directly owned 555,254 shares in the company, valued at approximately $2,121,070.28. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Homer sold 69,741 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $266,410.62. Following the completion of the sale, the chief operating officer owned 1,274,906 shares of the company's stock, valued at $4,870,140.92. The trade was a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 23.10% of the company's stock.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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