Renaissance Technologies LLC Acquires 91,708 Shares of ThredUp Inc. (NASDAQ:TDUP)

Renaissance Technologies LLC grew its holdings in shares of ThredUp Inc. (NASDAQ:TDUP) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 444,412 shares of the company’s stock after buying an additional 91,708 shares during the period. Renaissance Technologies LLC owned 0.40% of ThredUp worth $756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDUP. Bares Capital Management Inc. increased its position in ThredUp by 11.4% during the 1st quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after purchasing an additional 362,221 shares during the period. Acadian Asset Management LLC increased its position in shares of ThredUp by 22.8% during the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after buying an additional 251,629 shares during the period. Blair William & Co. IL raised its stake in ThredUp by 702.7% in the first quarter. Blair William & Co. IL now owns 236,800 shares of the company’s stock worth $474,000 after buying an additional 207,300 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in ThredUp in the first quarter worth about $328,000. Finally, Capital World Investors lifted its holdings in ThredUp by 1.5% in the first quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock worth $17,415,000 after buying an additional 127,600 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TDUP shares. Wells Fargo & Company decreased their target price on 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 objective on shares of ThredUp in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, ThredUp currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.33.

ThredUp Stock Performance

Shares of NASDAQ:TDUP opened at $0.80 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $0.92 and a two-hundred day simple moving average of $1.51. ThredUp Inc. has a 12-month low of $0.61 and a 12-month high of $3.80.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities research analysts expect that ThredUp Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other ThredUp news, Director Noam Paransky purchased 40,008 shares of the 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 directly owns 586,452 shares in the company, valued at $475,026.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Noam Paranksy bought 90,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $0.80 per share, with a total value of $72,000.00. Following the transaction, the director now owns 246,444 shares in the company, valued at approximately $197,155.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Noam Paransky purchased 40,008 shares of the stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $0.81 per share, for a total transaction of $32,406.48. Following the completion of the acquisition, the director now directly owns 586,452 shares in the company, valued at approximately $475,026.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 385,008 shares of company stock valued at $308,906 and sold 367,245 shares valued at $703,047. Corporate insiders own 34.42% of the company’s stock.

ThredUp Company 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.