Tudor Investment Corp ET AL Increases Position in ThredUp Inc. $TDUP

Tudor Investment Corp ET AL grew its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 42.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,271 shares of the company’s stock after purchasing an additional 197,512 shares during the period. Tudor Investment Corp ET AL owned approximately 0.53% of ThredUp worth $6,221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its stake in ThredUp by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock worth $32,758,000 after acquiring an additional 1,492,015 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in ThredUp by 263.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock worth $19,432,000 after purchasing an additional 1,491,020 shares during the period. Prudential Financial Inc. increased its stake in ThredUp by 3,625.5% during the second quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company’s stock worth $9,221,000 after purchasing an additional 1,198,043 shares during the period. Invesco Ltd. lifted its position in shares of ThredUp by 3,682.1% during the second quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock worth $8,504,000 after purchasing an additional 1,105,332 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of ThredUp in the third quarter valued at approximately $9,396,000. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Price Performance

Shares of TDUP opened at $3.46 on Wednesday. The firm has a market capitalization of $439.56 million, a price-to-earnings ratio of -23.07 and a beta of 1.72. The firm’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $6.96. ThredUp Inc. has a twelve month low of $2.29 and a twelve month high of $12.28. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on TDUP shares. Wells Fargo & Company dropped 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Telsey Advisory Group dropped their price target on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Insider Activity

In other news, COO Christopher Homer sold 69,741 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total value of $266,410.62. Following the transaction, the chief operating officer owned 1,274,906 shares in the company, valued at approximately $4,870,140.92. This represents a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sean Sobers sold 56,504 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total value of $215,845.28. Following the sale, the chief financial officer directly owned 555,254 shares in the company, valued at $2,121,070.28. This trade represents a 9.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 27.00% 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.