Zweig DiMenna Associates LLC Makes New $3.44 Million Investment in ThredUp Inc. $TDUP

Zweig DiMenna Associates LLC purchased a new position in ThredUp Inc. (NASDAQ:TDUP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 538,500 shares of the company’s stock, valued at approximately $3,441,000.

A number of other large investors have also bought and sold shares of the stock. Cerity Partners LLC lifted its stake in shares of ThredUp by 6.7% in the second quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock valued at $142,000 after buying an additional 1,190 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of ThredUp by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after buying an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ThredUp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after buying an additional 2,034 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after buying an additional 2,659 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of ThredUp by 3.3% in the third quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock valued at $846,000 after buying an additional 2,900 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Stock Down 2.5%

TDUP opened at $4.65 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $4.06 and its 200 day moving average is $5.28. ThredUp Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $12.28. The firm has a market capitalization of $600.04 million, a P/E ratio of -29.06 and a beta of 2.07.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The company had revenue of $81.67 million for the quarter, compared to analyst estimates of $80.17 million. Research analysts expect that ThredUp Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at ThredUp

In other news, Director Patricia Nakache purchased 13,157 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $3.73 per share, with a total value of $49,075.61. Following the completion of the transaction, the director directly owned 14,017 shares of the company’s stock, valued at approximately $52,283.41. This trade represents a 1,529.88% 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, CFO Sean Sobers sold 56,504 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $215,845.28. Following the transaction, the chief financial officer directly owned 555,254 shares in the company, valued at $2,121,070.28. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Telsey Advisory Group dropped their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company dropped their price objective on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

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.