726,762 ThredUp Inc. $TDUP Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in ThredUp Inc. (NASDAQ:TDUP) by 5,274.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 740,542 shares of the company’s stock after buying an additional 726,762 shares during the quarter. ProShare Advisors LLC’s holdings in ThredUp were worth $1,570,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Readystate Asset Management LP boosted its holdings in ThredUp by 197.4% in the second quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock valued at $10,335,000 after acquiring an additional 1,001,482 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in ThredUp by 19.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock worth $9,727,000 after purchasing an additional 473,907 shares in the last quarter. CI Investments Inc. bought a new position in ThredUp in the 1st quarter worth $5,937,000. Zweig DiMenna Associates LLC lifted its position in shares of ThredUp by 170.1% in the 1st quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock worth $4,771,000 after purchasing an additional 916,000 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of ThredUp in the 1st quarter worth about $1,338,000. 89.08% of the stock is currently owned by institutional investors.

ThredUp Stock Performance

NASDAQ:TDUP traded down $0.17 on Friday, hitting $1.28. The stock had a trading volume of 2,490,598 shares, compared to its average volume of 1,577,794. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. The stock has a market cap of $168.76 million, a price-to-earnings ratio of -7.14 and a beta of 2.18. The business’s 50-day simple moving average is $2.30 and its two-hundred day simple moving average is $4.07. ThredUp Inc. has a 52-week low of $1.28 and a 52-week high of $8.76.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. The firm had revenue of $88.23 million for the quarter, compared to the consensus estimate of $88.05 million. As a group, research analysts predict that ThredUp Inc. will post -0.17 earnings per share for the current year.

Insider Activity at ThredUp

In other news, COO Christopher Homer sold 60,230 shares of ThredUp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the sale, the chief operating officer owned 1,363,358 shares of the company’s stock, valued at approximately $3,517,463.64. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer directly owned 613,503 shares of the company’s stock, valued at approximately $1,582,837.74. This trade represents a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Cowen started coverage on ThredUp in a report on Friday, October 30th. They set a “strong-buy” rating on the stock. Telsey Advisory Group dropped their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. William Blair cut ThredUp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wells Fargo & Company decreased their price objective on ThredUp from $8.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Northland Securities lowered ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 price objective for the company. in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4.64.

ThredUp Profile

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.