ThredUp Inc. $TDUP Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its holdings in shares of ThredUp Inc. (NASDAQ:TDUP) by 113.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,228 shares of the company’s stock after buying an additional 84,106 shares during the quarter. Inspire Investing LLC owned about 0.12% of ThredUp worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of ThredUp by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock valued at $48,120,000 after acquiring an additional 616,052 shares during the last quarter. Needham Investment Management LLC boosted its position in shares of ThredUp by 7.0% in the fourth quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company’s stock worth $38,819,000 after acquiring an additional 400,000 shares during the last quarter. Marshall Wace LLP grew its holdings in ThredUp by 11.8% in the fourth quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock valued at $30,833,000 after purchasing an additional 509,195 shares during the period. State Street Corp grew its holdings in ThredUp by 26.2% in the fourth quarter. State Street Corp now owns 2,886,417 shares of the company’s stock valued at $18,444,000 after purchasing an additional 598,793 shares during the period. Finally, Millennium Management LLC increased its position in ThredUp by 27.1% during the third quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock worth $25,902,000 after purchasing an additional 584,506 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on TDUP shares. TD Cowen increased their price target on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company lowered their price objective on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Telsey Advisory Group dropped their price objective on ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

ThredUp Stock Up 1.7%

TDUP opened at $7.03 on Friday. ThredUp Inc. has a 1 year low of $3.08 and a 1 year high of $12.28. The firm has a 50 day moving average price of $5.01 and a 200 day moving average price of $4.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $907.16 million, a PE ratio of -43.94 and a beta of 1.97.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The firm had revenue of $81.67 million for the quarter, compared to analysts’ expectations of $80.17 million. Sell-side analysts expect that ThredUp Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 45,554 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at approximately $2,536,276.89. This represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total value of $272,790.54. Following the completion of the sale, the chief operating officer owned 1,301,843 shares of the company’s stock, valued at approximately $5,767,164.49. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.10% of the company’s stock.

ThredUp 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.