MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 3,908 Shares of ThredUp Inc. (NASDAQ:TDUP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ThredUp Inc. (NASDAQ:TDUP) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,671 shares of the company’s stock after purchasing an additional 3,908 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in ThredUp were worth $63,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of ThredUp during the fourth quarter valued at approximately $33,000. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp during the fourth quarter valued at approximately $48,000. O Shaughnessy Asset Management LLC bought a new position in shares of ThredUp during the fourth quarter valued at approximately $64,000. Wells Fargo & Company MN raised 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 valued at $80,000 after acquiring an additional 13,941 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ThredUp during the fourth quarter valued at approximately $105,000. Institutional investors own 89.08% of the company’s stock.

ThredUp Price Performance

Shares of TDUP stock opened at $7.24 on Tuesday. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $7.61. The stock has a market cap of $856.11 million, a price-to-earnings ratio of -11.31 and a beta of 1.51. The business’s fifty day moving average is $4.82 and its 200 day moving average is $2.99. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $67.54 million. Research analysts expect that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 212,842 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $3.32, for a total transaction of $706,635.44. Following the sale, the director now directly owns 250,956 shares of the company’s stock, valued at $833,173.92. This trade represents a 45.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 811,860 shares of company stock valued at $2,592,099. Insiders own 27.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TDUP has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $7.50 target price (up previously from $6.00) on shares of ThredUp in a report on Tuesday, May 6th. Telsey Advisory Group upped their target price on ThredUp from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Wall Street Zen cut ThredUp from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th.

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