Connor Clark & Lunn Investment Management Ltd. Makes New $348,000 Investment in ThredUp Inc. (NASDAQ:TDUP)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 250,451 shares of the company's stock, valued at approximately $348,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of ThredUp as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TDUP. Needham Investment Management LLC raised its position in shares of ThredUp by 7.2% during the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company's stock worth $5,220,000 after acquiring an additional 415,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ThredUp by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company's stock worth $1,591,000 after buying an additional 74,334 shares during the last quarter. State Street Corp lifted its position in shares of ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company's stock worth $1,215,000 after buying an additional 12,984 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company's stock valued at $87,000 after buying an additional 76,553 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TDUP. Needham & Company LLC restated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Telsey Advisory Group restated an "outperform" rating and set a $3.00 price target on shares of ThredUp in a research note on Tuesday, March 4th.

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Insider Activity

In other news, Director Patricia Nakache sold 315,102 shares of ThredUp stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $2.87, for a total value of $904,342.74. Following the sale, the director now owns 250,956 shares of the company's stock, valued at $720,243.72. The trade was a 55.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 2,833,612 shares of company stock valued at $6,633,229. Company insiders own 34.42% of the company's stock.

ThredUp Stock Performance

Shares of NASDAQ TDUP traded up $0.06 during midday trading on Thursday, reaching $2.70. 354,815 shares of the company were exchanged, compared to its average volume of 773,636. The stock has a fifty day simple moving average of $2.43 and a 200 day simple moving average of $1.59. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $313.73 million, a P/E ratio of -4.22 and a beta of 1.73. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $2.99.

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.