Acadian Asset Management LLC Has $5.91 Million Holdings in ThredUp Inc. $TDUP

Acadian Asset Management LLC grew its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,452,349 shares of the company’s stock after purchasing an additional 279,799 shares during the quarter. Acadian Asset Management LLC owned approximately 2.07% of ThredUp worth $5,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TDUP. Victory Capital Management Inc. acquired a new stake in shares of ThredUp during the first quarter valued at about $25,000. CHICAGO TRUST Co NA acquired a new stake in shares of ThredUp during the first quarter valued at about $30,000. ProShare Advisors LLC boosted its stake in shares of ThredUp by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company’s stock valued at $31,000 after purchasing an additional 7,287 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp during the fourth quarter valued at about $48,000. Finally, American Century Companies Inc. acquired a new stake in shares of ThredUp during the first quarter valued at about $57,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TDUP. Northland Securities set a $14.00 price target on ThredUp in a research note on Tuesday, August 5th. Wells Fargo & Company lifted their price objective on ThredUp from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Telsey Advisory Group lifted their price objective on ThredUp from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $13.00.

Insider Buying and Selling

In other ThredUp news, CFO Sean Sobers sold 50,000 shares of ThredUp stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $10.04, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer directly owned 427,390 shares in the company, valued at approximately $4,290,995.60. The trade was a 10.47% 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. Also, Director Coretha M. Rushing sold 105,000 shares of ThredUp stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the sale, the director owned 148,197 shares of the company’s stock, valued at approximately $1,603,491.54. The trade was a 41.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,000 shares of company stock valued at $2,642,100. 27.00% of the stock is currently owned by corporate insiders.

ThredUp Trading Down 4.8%

Shares of TDUP stock opened at $10.40 on Friday. The company has a market cap of $1.28 billion, a P/E ratio of -21.22 and a beta of 1.75. The stock has a 50 day simple moving average of $9.48 and a two-hundred day simple moving average of $6.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $12.28.

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.