ThredUp Inc. $TDUP Holdings Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its holdings in shares of ThredUp Inc. (NASDAQ:TDUP) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,104,104 shares of the company’s stock after selling 348,245 shares during the period. Acadian Asset Management LLC owned 1.78% of ThredUp worth $15,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TDUP. Bank of America Corp DE increased its holdings in shares of ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after purchasing an additional 23,156 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ThredUp by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 188,338 shares of the company’s stock worth $454,000 after purchasing an additional 9,254 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of ThredUp during the 1st quarter valued at $25,000. BloombergSen Inc. increased its position in ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company’s stock worth $3,060,000 after purchasing an additional 630,101 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in ThredUp by 15.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company’s stock valued at $58,000 after acquiring an additional 3,285 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Activity at ThredUp

In other news, Director Daniel J. Nova bought 65,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $522,600.00. Following the completion of the acquisition, the director owned 368,930 shares in the company, valued at approximately $2,966,197.20. This trade represents a 21.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Coretha M. Rushing sold 105,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $10.82, for a total value of $1,136,100.00. Following the completion of the transaction, the director directly 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 is available in the SEC filing. 27.00% of the stock is currently owned by corporate insiders.

ThredUp Price Performance

ThredUp stock opened at $8.00 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.00 billion, a P/E ratio of -26.67 and a beta of 1.70. The business has a 50-day moving average of $9.42 and a 200-day moving average of $8.52. ThredUp Inc. has a 1 year low of $0.86 and a 1 year high of $12.28.

Wall Street Analysts Forecast Growth

TDUP has been the topic of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $12.00 price target on shares of ThredUp in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, October 8th. Northland Capmk raised shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Thursday, September 4th. Finally, Roth Capital assumed coverage on ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ThredUp presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.