Tudor Investment Corp ET AL Increases Stock Position in ThredUp Inc. $TDUP

Tudor Investment Corp ET AL raised its stake in ThredUp Inc. (NASDAQ:TDUP) by 42.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 658,271 shares of the company’s stock after purchasing an additional 197,512 shares during the period. Tudor Investment Corp ET AL’s holdings in ThredUp were worth $6,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of ThredUp in the 2nd quarter valued at about $32,000. Quarry LP purchased a new stake in ThredUp in the third quarter valued at approximately $37,000. State of Alaska Department of Revenue acquired a new stake in shares of ThredUp in the third quarter valued at approximately $55,000. Ameritas Investment Partners Inc. grew its position in shares of ThredUp by 32.7% during the second quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock worth $70,000 after acquiring an additional 2,287 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of ThredUp by 110.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the company’s stock worth $82,000 after acquiring an additional 5,744 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Telsey Advisory Group reduced their price target on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Wells Fargo & Company lowered their price objective on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Insider Buying and Selling

In other ThredUp news, COO Christopher Homer sold 69,741 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total value of $266,410.62. Following the completion of the sale, the chief operating officer owned 1,274,906 shares of the company’s stock, valued at approximately $4,870,140.92. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Nakache bought 13,157 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the completion of the transaction, the director directly owned 14,017 shares in the company, valued at approximately $52,283.41. This represents a 1,529.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 27.00% of the stock is currently owned by corporate insiders.

ThredUp Price Performance

Shares of NASDAQ:TDUP opened at $3.46 on Wednesday. ThredUp Inc. has a 52 week low of $2.29 and a 52 week high of $12.28. The company has a 50-day moving average price of $4.56 and a 200 day moving average price of $6.96. The company has a market cap of $439.56 million, a P/E ratio of -23.07 and a beta of 1.72. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.24.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, March 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Research analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current year.

About ThredUp

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.