Two Sigma Investments LP Raises Position in ThredUp Inc. (NASDAQ:TDUP)

Two Sigma Investments LP boosted its position in ThredUp Inc. (NASDAQ:TDUP) by 150.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,632 shares of the company’s stock after purchasing an additional 68,790 shares during the period. Two Sigma Investments LP owned about 0.10% of ThredUp worth $159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TDUP. Two Sigma Advisers LP raised its stake in shares of ThredUp by 572.8% in the fourth quarter. Two Sigma Advisers LP now owns 109,000 shares of the company’s stock valued at $152,000 after buying an additional 92,800 shares during the period. ProShare Advisors LLC grew its stake in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock worth $31,000 after acquiring an additional 7,287 shares during the period. Needham Investment Management LLC increased its holdings in ThredUp by 2.7% in the 4th quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company’s stock worth $8,851,000 after acquiring an additional 167,500 shares during the last quarter. Millennium Management LLC bought a new stake in ThredUp in the 4th quarter valued at about $113,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ThredUp by 9.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,671 shares of the company’s stock valued at $63,000 after acquiring an additional 3,908 shares during the period. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TDUP. Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Tuesday, March 4th. Telsey Advisory Group lifted their price objective on shares of ThredUp from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reissued 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.

ThredUp Stock Down 4.1%

Shares of NASDAQ TDUP opened at $7.44 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $879.76 million, a P/E ratio of -11.63 and a beta of 1.75. ThredUp Inc. has a 52 week low of $0.50 and a 52 week high of $7.92. The business has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $3.31.

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

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 212,842 shares of ThredUp 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 completion of the sale, the director now owns 250,956 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 811,860 shares of company stock valued at $2,592,099. 27.00% of the stock is currently owned by company insiders.

About ThredUp

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.