Geode Capital Management LLC Raises Holdings in ThredUp Inc. (NASDAQ:TDUP)

Geode Capital Management LLC boosted its stake in ThredUp Inc. (NASDAQ:TDUP) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,889,294 shares of the company’s stock after purchasing an additional 74,334 shares during the period. Geode Capital Management LLC owned about 1.71% of ThredUp worth $1,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. bought a new position in shares of ThredUp in the second quarter worth approximately $37,000. Cubist Systematic Strategies LLC bought a new stake in ThredUp in the 2nd quarter worth $43,000. Creekside Partners purchased a new position in shares of ThredUp in the second quarter valued at about $51,000. SG Americas Securities LLC raised its stake in shares of ThredUp by 84.8% during 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. Finally, Barclays PLC boosted its holdings in shares of ThredUp by 278.7% during the third quarter. Barclays PLC now owns 104,018 shares of the company’s stock worth $87,000 after purchasing an additional 76,553 shares during the period. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In related news, Director Patricia Nakache sold 54,801 shares of ThredUp stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1.78, for a total transaction of $97,545.78. Following the completion of the transaction, the director now directly owns 247 shares of the company’s stock, valued at $439.66. This trade represents a 99.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Nova acquired 24,897 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $1.47 per share, for a total transaction of $36,598.59. Following the acquisition, the director now owns 303,930 shares of the company’s stock, valued at approximately $446,777.10. This trade represents a 8.92 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 214,797 shares of company stock worth $264,905 and sold 101,277 shares worth $179,808. 34.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TDUP shares. Telsey Advisory Group restated an “outperform” rating and set a $3.00 price target on shares of ThredUp in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

ThredUp Stock Performance

Shares of TDUP opened at $1.34 on Thursday. ThredUp Inc. has a one year low of $0.50 and a one year high of $2.42. The company has a 50-day simple moving average of $1.34 and a two-hundred day simple moving average of $1.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The firm has a market capitalization of $152.44 million, a PE ratio of -2.09 and a beta of 1.66.

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.