BloombergSen Inc. Boosts Stock Position in ThredUp Inc. $TDUP

BloombergSen Inc. grew its stake in ThredUp Inc. (NASDAQ:TDUP) by 44.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,274,289 shares of the company’s stock after purchasing an additional 393,385 shares during the period. ThredUp makes up about 0.6% of BloombergSen Inc.’s holdings, making the stock its 15th largest holding. BloombergSen Inc.’s holdings in ThredUp were worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in ThredUp by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock valued at $48,120,000 after acquiring an additional 616,052 shares during the last quarter. Millennium Management LLC lifted its holdings in ThredUp by 27.1% in the third quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock valued at $25,902,000 after acquiring an additional 584,506 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in ThredUp by 263.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock valued at $19,432,000 after acquiring an additional 1,491,020 shares during the last quarter. Invesco Ltd. lifted its holdings in ThredUp by 3,682.1% in the second quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock valued at $8,504,000 after acquiring an additional 1,105,332 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in ThredUp in the third quarter valued at approximately $9,396,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TDUP shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Friday, March 27th. Telsey Advisory Group decreased their price target on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company decreased their price target on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Finally, TD Cowen upped their price target on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache bought 13,157 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $3.73 per share, with a total value of $49,075.61. Following the completion of the acquisition, the director directly owned 14,017 shares of the company’s stock, valued at $52,283.41. This represents a 1,529.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean Sobers sold 56,504 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. 23.10% of the stock is currently owned by corporate insiders.

ThredUp Stock Down 3.4%

Shares of NASDAQ TDUP opened at $4.29 on Friday. The stock has a market cap of $553.58 million, a P/E ratio of -26.81 and a beta of 2.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. ThredUp Inc. has a 12-month low of $3.08 and a 12-month high of $12.28. The business’s fifty day simple moving average is $3.95 and its 200-day simple moving average is $5.41.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $81.67 million for the quarter, compared to analysts’ expectations of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. As a group, equities analysts predict that ThredUp Inc. will post -0.09 EPS for the current fiscal year.

About ThredUp

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.