Fmr LLC Reduces Position in ThredUp Inc. (NASDAQ:TDUP)

FMR LLC cut its stake in shares of ThredUp Inc. (NASDAQ:TDUP - Free Report) by 96.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,101 shares of the company's stock after selling 2,892,656 shares during the period. FMR LLC owned approximately 0.10% of ThredUp worth $90,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. purchased a new position in ThredUp during the 2nd quarter valued at about $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp during the second quarter worth about $43,000. Creekside Partners purchased a new position in shares of ThredUp in the second quarter valued at approximately $51,000. SG Americas Securities LLC grew its holdings in shares of ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company's stock valued at $29,000 after purchasing an additional 15,850 shares in the last quarter. Finally, BloombergSen Inc. purchased a new stake in ThredUp during the 2nd quarter worth approximately $131,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Stock Down 4.1 %

Shares of NASDAQ:TDUP traded down $0.06 during trading hours on Tuesday, reaching $1.39. The stock had a trading volume of 165,324 shares, compared to its average volume of 674,792. ThredUp Inc. has a 1 year low of $0.50 and a 1 year high of $2.46. The firm's 50 day moving average is $1.17 and its 200-day moving average is $1.23. The stock has a market capitalization of $158.12 million, a price-to-earnings ratio of -2.17 and a beta of 1.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 54,801 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $1.78, for a total value of $97,545.78. Following the transaction, the director now directly owns 247 shares in the company, valued at $439.66. This represents a 99.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Nova acquired 45,191 shares of the business's stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $0.97 per share, for a total transaction of $43,835.27. Following the acquisition, the director now owns 54,112 shares of the company's stock, valued at $52,488.64. This represents a 506.57 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 214,797 shares of company stock valued at $264,905 and have sold 101,277 shares valued at $179,808. 34.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TDUP shares. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research report on Wednesday, October 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $3.00 target price on shares of ThredUp in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.40.

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.