ThredUp Inc. $TDUP Position Raised by BloombergSen Inc.

BloombergSen Inc. boosted its position in ThredUp Inc. (NASDAQ:TDUP) by 36.9% in the third quarter, HoldingsChannel.com reports. The firm owned 880,904 shares of the company’s stock after purchasing an additional 237,620 shares during the quarter. ThredUp comprises approximately 0.5% of BloombergSen Inc.’s investment portfolio, making the stock its 17th biggest holding. BloombergSen Inc.’s holdings in ThredUp were worth $8,325,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TDUP. Marshall Wace LLP boosted its stake in ThredUp by 51.8% during the second quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after buying an additional 1,492,015 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of ThredUp by 3,625.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company’s stock valued at $9,221,000 after purchasing an additional 1,198,043 shares in the last quarter. Invesco Ltd. grew its stake in shares of ThredUp by 3,682.1% in the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock worth $8,504,000 after purchasing an additional 1,105,332 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ThredUp by 153.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,412,653 shares of the company’s stock worth $10,581,000 after purchasing an additional 855,630 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in ThredUp by 919.9% during the second quarter. JPMorgan Chase & Co. now owns 785,155 shares of the company’s stock valued at $5,881,000 after purchasing an additional 708,169 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Trading Down 1.8%

NASDAQ:TDUP opened at $5.58 on Tuesday. The stock has a market cap of $698.28 million, a PE ratio of -18.60 and a beta of 1.73. ThredUp Inc. has a fifty-two week low of $2.02 and a fifty-two week high of $12.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $7.06 and its two-hundred day moving average is $8.52.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $77.34 million. As a group, equities research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 51,220 shares of ThredUp stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $380,052.40. Following the completion of the sale, the chief financial officer owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher Homer sold 68,358 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $507,216.36. Following the sale, the chief operating officer directly owned 1,170,567 shares of the company’s stock, valued at $8,685,607.14. This trade represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 27.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TDUP shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $12.00 price target on shares of ThredUp in a report on Tuesday, December 9th. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Roth Capital started coverage on ThredUp in a research note on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.50.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.