ThredUp Inc. $TDUP Shares Acquired by UBS Group AG

UBS Group AG boosted its holdings in ThredUp Inc. (NASDAQ:TDUP) by 51.1% in the fourth quarter, HoldingsChannel reports. The firm owned 370,828 shares of the company’s stock after purchasing an additional 125,388 shares during the period. UBS Group AG’s holdings in ThredUp were worth $2,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TDUP. Arrowstreet Capital Limited Partnership raised its position in shares of ThredUp by 263.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock valued at $19,432,000 after purchasing an additional 1,491,020 shares in the last quarter. Invesco Ltd. boosted its stake in shares of ThredUp by 3,682.1% during the 2nd quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock valued at $8,504,000 after buying an additional 1,105,332 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of ThredUp during the third quarter worth approximately $9,396,000. Landscape Capital Management L.L.C. acquired a new stake in shares of ThredUp during the third quarter worth approximately $7,389,000. Finally, JPMorgan Chase & Co. increased its stake in shares of ThredUp by 919.9% in the second quarter. JPMorgan Chase & Co. now owns 785,155 shares of the company’s stock worth $5,881,000 after buying an additional 708,169 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TDUP has been the topic of several recent analyst reports. TD Cowen upped their price target on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a report on Tuesday, May 5th. Telsey Advisory Group decreased their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company dropped their target price on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.14.

Insider Activity

In related news, Director Patricia Nakache bought 13,157 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $3.73 per share, with a total value of $49,075.61. Following the completion of the acquisition, the director owned 14,017 shares of the company’s stock, valued at $52,283.41. This trade represents a 1,529.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christopher Homer sold 69,741 shares of the firm’s stock in a transaction that occurred 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 directly owned 1,274,906 shares in the company, valued at approximately $4,870,140.92. This trade represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 23.10% of the company’s stock.

ThredUp Stock Up 1.6%

TDUP stock opened at $4.36 on Wednesday. The firm has a market cap of $562.61 million, a price-to-earnings ratio of -27.25 and a beta of 2.07. ThredUp Inc. has a 1-year low of $3.08 and a 1-year high of $12.28. The firm has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $5.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.95.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $81.67 million for the quarter, compared to the consensus estimate of $80.17 million. Research analysts predict that ThredUp Inc. will post -0.09 EPS for the current year.

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.