Needham Investment Management LLC Buys 167,500 Shares of ThredUp Inc. (NASDAQ:TDUP)

Needham Investment Management LLC grew its holdings in ThredUp Inc. (NASDAQ:TDUP - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,367,500 shares of the company's stock after purchasing an additional 167,500 shares during the quarter. Needham Investment Management LLC owned about 5.60% of ThredUp worth $8,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in ThredUp by 14.7% during the 4th quarter. Barclays PLC now owns 119,325 shares of the company's stock worth $166,000 after buying an additional 15,307 shares during the period. Renaissance Technologies LLC raised its stake in ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after buying an additional 420,012 shares during the period. PEAK6 LLC acquired a new position in ThredUp during the 4th quarter worth approximately $228,000. BloombergSen Inc. raised its stake in ThredUp by 278.9% during the 4th quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after buying an additional 470,768 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock worth $280,000 after buying an additional 165,115 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 60,274 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $2.71, for a total value of $163,342.54. Following the completion of the sale, the director now owns 250,956 shares of the company's stock, valued at approximately $680,090.76. The trade was a 19.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 1,187,236 shares of company stock valued at $3,659,784 over the last 90 days. Insiders own 27.00% of the company's stock.

ThredUp Stock Performance

Shares of ThredUp stock traded up $0.30 during trading hours on Friday, reaching $7.15. The company had a trading volume of 2,401,452 shares, compared to its average volume of 1,059,697. ThredUp Inc. has a one year low of $0.50 and a one year high of $7.19. The business has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $2.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The firm has a market cap of $845.47 million, a PE ratio of -11.17 and a beta of 1.51.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $67.54 million. On average, analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Telsey Advisory Group boosted their price objective on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $7.50 target price (up from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a report on Tuesday, March 4th.

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.