ThredUp Inc. $TDUP Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in ThredUp Inc. (NASDAQ:TDUP) by 5,274.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 740,542 shares of the company’s stock after purchasing an additional 726,762 shares during the period. ProShare Advisors LLC owned approximately 0.56% of ThredUp worth $1,570,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDUP. IFP Advisors Inc grew its stake in ThredUp by 634.8% during the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock worth $48,000 after buying an additional 6,081 shares in the last quarter. HB Wealth Management LLC bought a new position in ThredUp in the second quarter valued at about $71,000. R Squared Ltd bought a new position in shares of ThredUp in the first quarter worth about $34,000. Abel Hall LLC acquired a new stake in shares of ThredUp in the 1st quarter valued at approximately $39,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of ThredUp in the 2nd quarter valued at approximately $86,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company dropped their target price on ThredUp from $8.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings raised ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. TD Cowen initiated coverage on shares of ThredUp in a research report on Friday, October 30th. They set a “strong-buy” rating on the stock. Wall Street Zen cut shares of ThredUp from a “hold” rating to a “sell” rating in a report on Saturday. Finally, William Blair downgraded shares of ThredUp from an “outperform” rating to a “market perform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.64.

ThredUp Stock Down 11.4%

TDUP traded down $0.17 during mid-day trading on Friday, reaching $1.28. 2,490,598 shares of the stock were exchanged, compared to its average volume of 1,577,794. ThredUp Inc. has a 1 year low of $1.28 and a 1 year high of $8.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $2.30 and a two-hundred day moving average price of $4.07. The stock has a market capitalization of $168.76 million, a PE ratio of -7.14 and a beta of 2.18.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. The firm had revenue of $88.23 million during the quarter, compared to the consensus estimate of $88.05 million. As a group, research analysts anticipate that ThredUp Inc. will post -0.17 EPS for the current year.

Insider Activity at ThredUp

In other ThredUp news, CFO Sean Sobers sold 44,559 shares of ThredUp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer directly owned 613,503 shares in the company, valued at $1,582,837.74. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the transaction, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at approximately $3,517,463.64. This represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is currently owned by corporate insiders.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.