Needham Investment Management LLC increased its holdings in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,367,500 shares of the company's stock after buying an additional 167,500 shares during the quarter. Needham Investment Management LLC owned about 5.60% of ThredUp worth $8,851,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FIL Ltd grew its holdings in ThredUp by 0.8% in the 4th quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after buying an additional 27,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in ThredUp by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock worth $2,663,000 after buying an additional 26,326 shares in the last quarter. Marshall Wace LLP boosted its stake in 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 purchasing an additional 872,357 shares in the last quarter. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 420,012 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in ThredUp by 13.0% during the 4th quarter. Northern Trust Corp now owns 733,725 shares of the company's stock valued at $1,020,000 after purchasing an additional 84,353 shares in the last quarter. 89.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on TDUP. Telsey Advisory Group increased their price target on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reaffirmed 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.
View Our Latest Report on TDUP
Insider Activity
In other news, Director Patricia Nakache sold 49,007 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $2.24, for a total value of $109,775.68. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at $562,141.44. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,187,236 shares of company stock worth $3,659,784. Insiders own 27.00% of the company's stock.
ThredUp Price Performance
Shares of NASDAQ:TDUP traded up $0.30 on Friday, reaching $7.15. 2,401,452 shares of the company traded hands, compared to its average volume of 1,062,517. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $7.19. The company's 50 day moving average is $3.76 and its 200-day moving average is $2.48. The stock has a market capitalization of $845.47 million, a PE ratio of -11.17 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.
ThredUp (NASDAQ:TDUP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. The company had revenue of $71.29 million during the quarter, compared to the consensus estimate of $67.54 million. As a group, analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.
About ThredUp
(
Free Report)
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.
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