Cubist Systematic Strategies LLC Invests $48,000 in ThredUp Inc. (NASDAQ:TDUP)

Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp Inc. (NASDAQ:TDUP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,857 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of ThredUp by 32.1% during the fourth quarter. Wells Fargo & Company MN now owns 57,426 shares of the company’s stock worth $80,000 after purchasing an additional 13,941 shares in the last quarter. Barclays PLC grew its holdings in shares of ThredUp by 14.7% during the fourth quarter. Barclays PLC now owns 119,325 shares of the company’s stock worth $166,000 after purchasing an additional 15,307 shares in the last quarter. Bank of America Corp DE lifted its position in ThredUp by 42.6% in the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after buying an additional 23,156 shares during the last quarter. Virtu Financial LLC bought a new stake in ThredUp in the 4th quarter worth approximately $33,000. Finally, Geode Capital Management LLC lifted its position in ThredUp by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company’s stock worth $2,663,000 after buying an additional 26,326 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Stock Performance

NASDAQ:TDUP opened at $6.99 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp Inc. has a 1-year low of $0.50 and a 1-year high of $7.19. The business has a 50 day moving average of $3.86 and a 200 day moving average of $2.54. The company has a market capitalization of $826.55 million, a price-to-earnings ratio of -10.92 and a beta of 1.51.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. The firm had revenue of $71.29 million during the quarter, compared to the consensus estimate of $67.54 million. On average, sell-side analysts predict that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other ThredUp news, Director Patricia Nakache sold 49,007 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $2.24, for a total value of $109,775.68. Following the completion of the sale, the director now owns 250,956 shares in the company, valued at approximately $562,141.44. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 872,134 shares of company stock worth $2,755,442. 27.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDUP. Telsey Advisory Group boosted their target price on ThredUp from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Wells Fargo & Company restated an “overweight” rating and issued a $7.50 target price (up previously from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th.

ThredUp 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 apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.