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

Federated Hermes Inc. raised its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 35.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 728,375 shares of the company’s stock after acquiring an additional 191,723 shares during the quarter. Federated Hermes Inc. owned approximately 0.59% of ThredUp worth $6,883,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TDUP. Marshall Wace LLP boosted its position in shares of ThredUp by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after acquiring an additional 1,492,015 shares during the last quarter. Prudential Financial Inc. lifted its stake in ThredUp by 3,625.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company’s stock worth $9,221,000 after acquiring an additional 1,198,043 shares in the last quarter. Invesco Ltd. increased its stake in 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in ThredUp by 153.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,412,653 shares of the company’s stock worth $10,581,000 after buying an additional 855,630 shares during the period. Finally, JPMorgan Chase & Co. raised 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 valued at $5,881,000 after acquiring an additional 708,169 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ThredUp

In other ThredUp news, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $380,052.40. Following the sale, the chief financial officer directly owned 495,336 shares of the company’s stock, valued at $3,675,393.12. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher Homer sold 68,358 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $507,216.36. Following the transaction, the chief operating officer directly owned 1,170,567 shares in the company, valued at $8,685,607.14. The trade was a 5.52% decrease in their position. The SEC filing for this sale provides additional information. 27.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Telsey Advisory Group reissued an “outperform” rating and set a $12.00 price objective on shares of ThredUp in a research report on Tuesday, December 9th. Roth Mkm initiated coverage on ThredUp in a research report on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th. Finally, Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

ThredUp Stock Down 1.6%

TDUP stock opened at $5.00 on Tuesday. The company’s 50-day moving average price is $6.63 and its 200 day moving average price is $8.39. The company has a market cap of $625.70 million, a P/E ratio of -16.67 and a beta of 1.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. ThredUp Inc. has a 52 week low of $2.02 and a 52 week high of $12.28.

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

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.