Fmr LLC Sells 2,892,656 Shares of ThredUp Inc. (NASDAQ:TDUP)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in 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 acquiring an additional 15,850 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of ThredUp during the second quarter worth $37,000. Cubist Systematic Strategies LLC bought a new position in ThredUp during the second quarter worth $43,000. Creekside Partners bought a new position in shares of ThredUp in the 2nd quarter worth about $51,000. Finally, Simplicity Wealth LLC acquired a new position in ThredUp in the third quarter valued at approximately $97,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TDUP. Needham & Company LLC reiterated 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 price objective on shares of ThredUp in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.40.

ThredUp Stock Performance

Shares of TDUP stock opened at $1.45 on Tuesday. 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 firm has a fifty day simple moving average of $1.15 and a two-hundred day simple moving average of $1.23. ThredUp Inc. has a 12 month low of $0.50 and a 12 month high of $2.46. The firm has a market capitalization of $164.95 million, a PE ratio of -2.27 and a beta of 1.62.

Insider Activity

In related news, Director Daniel J. Nova bought 45,897 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the acquisition, the director now directly owns 124,142 shares of the company’s stock, valued at $124,142. This trade represents a 58.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Patricia Nakache sold 41,676 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $1.77, for a total value of $73,766.52. Following the sale, the director now owns 250,956 shares of the company’s stock, valued at $444,192.12. This trade represents a 14.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 214,797 shares of company stock worth $264,905 and sold 101,277 shares worth $179,808. Corporate insiders own 34.42% of the company’s stock.

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.