Federated Hermes Inc. Boosts Stake in ThredUp Inc. $TDUP

Federated Hermes Inc. lifted its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 35.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 728,375 shares of the company’s stock after purchasing an additional 191,723 shares during the quarter. Federated Hermes Inc.’s holdings in ThredUp were worth $6,883,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Strs Ohio boosted its position in shares of ThredUp by 25.0% in the third quarter. Strs Ohio now owns 21,000 shares of the company’s stock worth $198,000 after buying an additional 4,200 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in ThredUp during the third quarter valued at approximately $168,000. BloombergSen Inc. raised its position in shares of ThredUp by 36.9% during the 3rd quarter. BloombergSen Inc. now owns 880,904 shares of the company’s stock valued at $8,325,000 after acquiring an additional 237,620 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in ThredUp during the third quarter valued at $55,000. Finally, SG Americas Securities LLC grew its position in shares of ThredUp by 99.7% during the 3rd quarter. SG Americas Securities LLC now owns 54,260 shares of the company’s stock valued at $513,000 after buying an additional 27,093 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Daniel J. Nova acquired 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average cost of $8.04 per share, with a total value of $522,600.00. Following the purchase, the director owned 368,930 shares of the company’s stock, valued at approximately $2,966,197.20. The trade was a 21.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean Sobers sold 51,220 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $380,052.40. Following the completion of the sale, the chief financial officer owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. This trade represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 27.00% of the stock is currently owned by insiders.

ThredUp Stock Down 1.6%

TDUP opened at $5.00 on Tuesday. The company has a market capitalization of $625.70 million, a PE ratio of -16.67 and a beta of 1.72. ThredUp Inc. has a fifty-two week low of $2.02 and a fifty-two week high of $12.28. The business has a 50-day moving average of $6.63 and a 200-day moving average of $8.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, November 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $77.34 million. Equities research analysts forecast that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on TDUP. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Roth Mkm assumed coverage on shares of ThredUp in a research note on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and issued a $12.00 price objective on shares of ThredUp in a report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

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.