Simplicity Wealth LLC Purchases New Holdings in ThredUp Inc. (NASDAQ:TDUP)

Simplicity Wealth LLC acquired a new position in shares of ThredUp Inc. (NASDAQ:TDUP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,856 shares of the company’s stock, valued at approximately $156,000. Simplicity Wealth LLC owned about 0.06% of ThredUp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ThredUp during the 4th quarter valued at $348,000. Virtu Financial LLC bought a new position in shares of ThredUp during the 4th quarter valued at about $33,000. JPMorgan Chase & Co. grew its holdings in shares of ThredUp by 450.6% during the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company’s stock valued at $280,000 after purchasing an additional 165,115 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of ThredUp during the fourth quarter valued at about $521,000. Finally, O Shaughnessy Asset Management LLC bought a new position in ThredUp during the 4th quarter worth approximately $64,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Stock Down 1.9%

Shares of ThredUp stock opened at $7.30 on Friday. The company’s 50 day moving average is $5.71 and its 200 day moving average is $3.35. The company has a market cap of $863.20 million, a price-to-earnings ratio of -11.41 and a beta of 1.75. 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 twelve month low of $0.50 and a twelve month high of $7.92.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share 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 firm had revenue of $71.29 million for the quarter, compared to analysts’ expectations of $67.54 million. Research analysts anticipate that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Transactions at ThredUp

In other news, Director Patricia Nakache sold 91,070 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $2.48, for a total value of $225,853.60. Following the transaction, the director now owns 250,956 shares in the company, valued at $622,370.88. This represents a 26.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 811,860 shares of company stock worth $2,592,099 in the last quarter. Company insiders own 27.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Telsey Advisory Group raised their price target on shares of ThredUp from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wells Fargo & Company restated an “overweight” rating and set a $7.50 target price (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th.

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.