Landscape Capital Management L.L.C. Acquires New Holdings in ThredUp Inc. $TDUP

Landscape Capital Management L.L.C. bought a new position in ThredUp Inc. (NASDAQ:TDUP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 781,953 shares of the company’s stock, valued at approximately $7,389,000. Landscape Capital Management L.L.C. owned about 0.62% of ThredUp at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of ThredUp during the second quarter worth approximately $32,000. State of Alaska Department of Revenue acquired a new stake in ThredUp in the 3rd quarter valued at approximately $55,000. Ameritas Investment Partners Inc. raised its stake in ThredUp by 32.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock valued at $70,000 after acquiring an additional 2,287 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in ThredUp by 110.1% during the 2nd 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 period. Finally, Cubist Systematic Strategies LLC boosted its position in ThredUp by 7.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after acquiring an additional 2,659 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

ThredUp Price Performance

NASDAQ TDUP traded up $0.07 on Friday, reaching $3.63. 131,620 shares of the stock traded hands, compared to its average volume of 2,217,343. The firm’s fifty day simple moving average is $4.99 and its 200 day simple moving average is $7.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.24. The company has a market cap of $453.76 million, a price-to-earnings ratio of -24.23 and a beta of 1.72. ThredUp Inc. has a 12 month low of $2.16 and a 12 month high of $12.28.

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

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.