JPMorgan Chase & Co. Acquires 165,115 Shares of ThredUp Inc. (NASDAQ:TDUP)

JPMorgan Chase & Co. increased its position in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 450.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,755 shares of the company's stock after purchasing an additional 165,115 shares during the period. JPMorgan Chase & Co. owned 0.18% of ThredUp worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of ThredUp during the 4th quarter worth $33,000. Barclays PLC increased its holdings in shares of ThredUp by 278.7% during the 3rd 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ThredUp during the 4th quarter worth $348,000. State Street Corp grew its position in shares of ThredUp by 0.9% in the third quarter. State Street Corp now owns 1,443,177 shares of the company's stock valued at $1,215,000 after purchasing an additional 12,984 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in ThredUp by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company's stock valued at $1,591,000 after buying an additional 74,334 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

ThredUp Price Performance

ThredUp stock traded up $0.02 during mid-day trading on Monday, hitting $4.44. 3,809,518 shares of the company were exchanged, compared to its average volume of 877,369. The business has a fifty day moving average of $2.97 and a 200 day moving average of $2.10. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $5.31. The company has a market capitalization of $515.91 million, a PE ratio of -6.94 and a beta of 1.51.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its earnings results 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 net margin of 22.16% and a negative return on equity of 78.74%. As a group, sell-side analysts expect that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In other news, Director Patricia Nakache sold 420,711 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $2.61, for a total transaction of $1,098,055.71. Following the transaction, the director now owns 250,956 shares of the company's stock, valued at $654,995.16. This represents a 62.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 1,757,883 shares of company stock worth $5,140,216. 27.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TDUP. Wells Fargo & Company increased their price objective on ThredUp from $3.00 to $6.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th. Finally, Telsey Advisory Group upped their target price on ThredUp from $3.00 to $6.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

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.