Jacobs Levy Equity Management Inc. Sells 71,442 Shares of ThredUp Inc. (NASDAQ:TDUP)

Jacobs Levy Equity Management Inc. trimmed its position in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 8.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 761,669 shares of the company's stock after selling 71,442 shares during the period. Jacobs Levy Equity Management Inc. owned 0.67% of ThredUp worth $1,059,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TDUP. Virtu Financial LLC acquired a new stake in shares of ThredUp during the fourth quarter valued at about $33,000. Cubist Systematic Strategies LLC acquired a new stake in ThredUp during the 4th quarter worth approximately $48,000. O Shaughnessy Asset Management LLC bought a new stake in ThredUp during the 4th quarter worth approximately $64,000. Wells Fargo & Company MN increased its position in ThredUp by 32.1% in the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock valued at $80,000 after acquiring an additional 13,941 shares during the period. Finally, Barclays PLC raised its stake in shares of ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company's stock valued at $87,000 after acquiring an additional 76,553 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TDUP has been the subject of a number of recent analyst reports. Telsey Advisory Group increased their target price on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company restated an "overweight" rating and issued a $7.50 target price (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th.

ThredUp Stock Up 2.7%

Shares of ThredUp stock traded up $0.19 during trading hours on Tuesday, reaching $7.18. The company's stock had a trading volume of 2,085,329 shares, compared to its average volume of 1,068,391. The company has a market capitalization of $849.01 million, a P/E ratio of -11.22 and a beta of 1.51. The stock's fifty day simple moving average is $3.86 and its two-hundred day simple moving average is $2.54. ThredUp Inc. has a one year low of $0.50 and a one year high of $7.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. The business had revenue of $71.29 million during the quarter, compared to the consensus estimate of $67.54 million. On average, research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Activity

In related news, Director Patricia Nakache sold 60,274 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $2.71, for a total transaction of $163,342.54. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at approximately $680,090.76. This trade represents a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 872,134 shares of company stock valued at $2,755,442 in the last ninety days. 27.00% of the stock is currently owned by insiders.

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.