SG Americas Securities LLC Buys 15,850 Shares of ThredUp Inc. (NASDAQ:TDUP)

SG Americas Securities LLC lifted its position in ThredUp Inc. (NASDAQ:TDUP) by 84.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,543 shares of the company’s stock after purchasing an additional 15,850 shares during the quarter. SG Americas Securities LLC’s holdings in ThredUp were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blair William & Co. IL raised its position in shares of ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after acquiring an additional 674,852 shares in the last quarter. BloombergSen Inc. bought a new position in shares of ThredUp during the second quarter valued at $131,000. PEAK6 Investments LLC purchased a new stake in shares of ThredUp during the 1st quarter valued at about $328,000. Sei Investments Co. bought a new stake in shares of ThredUp in the second quarter worth approximately $37,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of ThredUp by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after purchasing an additional 20,933 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, ThredUp currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Insider Buying and Selling

In related news, Director Noam Paransky acquired 40,008 shares of ThredUp stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $0.81 per share, for a total transaction of $32,406.48. Following the completion of the transaction, the director now directly owns 586,452 shares in the company, valued at approximately $475,026.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Noam Paransky bought 40,008 shares of ThredUp stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the acquisition, the director now owns 586,452 shares of the company’s stock, valued at $475,026.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Noam Paranksy purchased 90,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $0.80 per share, with a total value of $72,000.00. Following the acquisition, the director now directly owns 246,444 shares in the company, valued at $197,155.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 385,008 shares of company stock valued at $308,906. Corporate insiders own 34.42% of the company’s stock.

ThredUp Stock Down 7.0 %

Shares of TDUP stock opened at $0.66 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. ThredUp Inc. has a one year low of $0.61 and a one year high of $3.80. The company’s fifty day moving average price is $0.81 and its 200-day moving average price is $1.39. The company has a market capitalization of $73.14 million, a price-to-earnings ratio of -1.12 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. During the same period in the prior year, the business earned ($0.18) earnings per share. Sell-side analysts expect that ThredUp Inc. will post -0.55 EPS for the current fiscal year.

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.