Sei Investments Co. Reduces Stock Holdings in ThredUp Inc. $TDUP

Sei Investments Co. trimmed its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 53.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 177,645 shares of the company’s stock after selling 200,572 shares during the quarter. Sei Investments Co.’s holdings in ThredUp were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TDUP. Cerity Partners LLC increased its position in ThredUp by 6.7% in the second quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock worth $234,000 after buying an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after purchasing an additional 2,034 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in ThredUp by 7.6% during the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after buying an additional 2,659 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of ThredUp by 3.3% during the 3rd quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock valued at $846,000 after acquiring an additional 2,900 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TDUP. Wells Fargo & Company cut their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Telsey Advisory Group dropped their target price on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, June 24th. TD Cowen boosted their price objective on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.55.

ThredUp Stock Down 3.2%

TDUP opened at $3.07 on Friday. ThredUp Inc. has a 12 month low of $3.00 and a 12 month high of $12.28. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $5.72 and its 200-day moving average price is $4.78. The company has a market cap of $396.15 million, a P/E ratio of -18.06 and a beta of 2.01.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. The company had revenue of $90.77 million for the quarter, compared to analysts’ expectations of $90.34 million. On average, equities analysts expect that ThredUp Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling

In related news, COO Christopher Homer sold 61,578 shares of ThredUp stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total value of $272,790.54. Following the transaction, the chief operating officer directly owned 1,301,843 shares of the company’s stock, valued at $5,767,164.49. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the sale, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at $2,536,276.89. The trade was a 7.37% decrease in their position. 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. Corporate insiders own 23.10% of the company’s stock.

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.