Readystate Asset Management LP Purchases 1,001,482 Shares of ThredUp Inc. $TDUP

Readystate Asset Management LP raised its position in ThredUp Inc. (NASDAQ:TDUP) by 197.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,508,736 shares of the company’s stock after buying an additional 1,001,482 shares during the quarter. Readystate Asset Management LP owned 1.15% of ThredUp worth $10,335,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TDUP. Cerity Partners LLC increased its position in ThredUp by 6.7% during the second quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares during the period. The Manufacturers Life Insurance Company raised its stake in ThredUp by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock worth $234,000 after purchasing an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after purchasing an additional 2,034 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in ThredUp by 7.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after purchasing an additional 2,659 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of ThredUp by 3.3% during the 3rd quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock worth $846,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TDUP has been the topic of several recent research reports. Roth Capital reaffirmed a “buy” rating and set a $6.50 target price on shares of ThredUp in a report on Thursday, August 6th. Telsey Advisory Group cut their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.55.

ThredUp Stock Performance

TDUP opened at $2.72 on Monday. ThredUp Inc. has a twelve month low of $2.48 and a twelve month high of $11.90. The company has a 50-day simple moving average of $4.85 and a 200 day simple moving average of $4.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $357.22 million, a price-to-earnings ratio of -16.00 and a beta of 1.97.

ThredUp (NASDAQ:TDUP) last released its earnings results on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $90.77 million during the quarter, compared to the consensus estimate of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. Analysts predict that ThredUp Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at ThredUp

In other ThredUp news, CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total value of $114,962.22. Following the sale, the chief financial officer owned 613,503 shares of the company’s stock, valued at approximately $1,582,837.74. This trade represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the sale, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. This represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 23.10% of the company’s stock.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.