Granahan Investment Management LLC Sells 344,615 Shares of ThredUp Inc. (NASDAQ:TDUP)

Granahan Investment Management LLC decreased its holdings in ThredUp Inc. (NASDAQ:TDUP) by 16.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,775,421 shares of the company’s stock after selling 344,615 shares during the period. Granahan Investment Management LLC owned about 1.75% of ThredUp worth $4,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Upfront Ventures Management LLC acquired a new position in shares of ThredUp during the fourth quarter worth $4,748,000. Capital World Investors lifted its stake in ThredUp by 72.7% in the 1st quarter. Capital World Investors now owns 6,154,000 shares of the company’s stock worth $47,386,000 after purchasing an additional 2,591,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ThredUp by 138.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,284,475 shares of the company’s stock valued at $8,211,000 after buying an additional 1,904,679 shares during the period. Osmium Partners LLC acquired a new stake in ThredUp in the 4th quarter valued at approximately $2,011,000. Finally, FMR LLC grew its stake in shares of ThredUp by 13.6% in the first quarter. FMR LLC now owns 4,693,720 shares of the company’s stock worth $11,875,000 after acquiring an additional 563,234 shares in the last quarter. Institutional investors own 58.60% of the company’s stock.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 199,996 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $3.88, for a total value of $775,984.48. Following the completion of the sale, the director now owns 139,405 shares of the company’s stock, valued at $540,891.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Trinity Tvl X, Llc sold 15,883 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $3.21, for a total transaction of $50,984.43. Following the transaction, the insider now directly owns 1,031 shares of the company’s stock, valued at $3,309.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Nakache sold 199,996 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $3.88, for a total transaction of $775,984.48. Following the completion of the sale, the director now owns 139,405 shares in the company, valued at approximately $540,891.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 530,826 shares of company stock valued at $1,861,968. Corporate insiders own 38.68% of the company’s stock.

Analyst Upgrades and Downgrades

TDUP has been the subject of several research reports. The Goldman Sachs Group boosted their price target on shares of ThredUp from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Piper Sandler upped their target price on shares of ThredUp from $2.00 to $3.00 in a research report on Wednesday, August 9th. Morgan Stanley increased their price target on shares of ThredUp from $2.25 to $4.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price objective on shares of ThredUp in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, ThredUp presently has a consensus rating of “Moderate Buy” and an average price target of $3.88.

ThredUp Price Performance

Shares of NASDAQ:TDUP opened at $3.36 on Monday. The company’s fifty day moving average is $3.38 and its two-hundred day moving average is $2.78. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.20. ThredUp Inc. has a 12-month low of $0.73 and a 12-month high of $4.39. The company has a market cap of $354.38 million, a P/E ratio of -4.20 and a beta of 1.02.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. ThredUp had a negative net margin of 27.44% and a negative return on equity of 60.39%. The business had revenue of $82.66 million for the quarter, compared to the consensus estimate of $81.21 million. Equities analysts expect that ThredUp Inc. will post -0.68 earnings per share for the current fiscal year.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand women's and kids' apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.