Sei Investments Co. Has $583,000 Holdings in ThredUp Inc. $TDUP

Sei Investments Co. trimmed its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 53.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,645 shares of the company’s stock after selling 200,572 shares during the quarter. Sei Investments Co. owned 0.14% of ThredUp worth $583,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in ThredUp in the 2nd quarter valued at $32,000. R Squared Ltd acquired a new position in ThredUp during the first quarter worth $34,000. Quarry LP acquired a new position in ThredUp during the third quarter worth $37,000. Abel Hall LLC bought a new position in shares of ThredUp in the first quarter valued at $39,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after buying an additional 5,424 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

ThredUp Price Performance

ThredUp stock opened at $3.07 on Friday. ThredUp Inc. has a 52 week low of $3.00 and a 52 week high of $12.28. The company’s 50 day moving average price is $5.72 and its two-hundred day moving average price is $4.78. The stock has a market cap of $396.15 million, a P/E ratio of -18.06 and a beta of 2.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.29.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%.The business had revenue of $90.77 million for the quarter, compared to the consensus estimate of $90.34 million. On average, equities analysts predict that ThredUp Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Wells Fargo & Company lowered their target price on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. TD Cowen raised their price target on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th. 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, Roth Capital reissued a “buy” rating and set a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.55.

Insider Buying and Selling at ThredUp

In related news, COO Christopher Homer sold 61,578 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the transaction, the chief operating officer owned 1,301,843 shares in the company, valued at approximately $5,767,164.49. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the transaction, the chief financial officer owned 572,523 shares of the company’s stock, valued at approximately $2,536,276.89. The trade was a 7.37% 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.

ThredUp Company Profile

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.