Divisadero Street Capital Management LP Invests $9.40 Million in ThredUp Inc. $TDUP

Divisadero Street Capital Management LP bought a new stake in shares of ThredUp Inc. (NASDAQ:TDUP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 994,249 shares of the company’s stock, valued at approximately $9,396,000. Divisadero Street Capital Management LP owned about 0.79% of ThredUp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after buying an additional 23,156 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of 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 acquiring an additional 2,659 shares during the last quarter. AQR Capital Management LLC boosted its holdings in ThredUp by 185.9% during the 1st quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock valued at $228,000 after acquiring an additional 61,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in ThredUp by 39.2% in the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock worth $223,000 after purchasing an additional 25,995 shares during the period. 89.08% of the stock is owned by institutional investors.

Insider Transactions at ThredUp

In other news, COO Christopher Homer sold 69,741 shares of ThredUp stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $266,410.62. Following the sale, the chief operating officer owned 1,274,906 shares of the company’s stock, valued at approximately $4,870,140.92. The trade was a 5.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia Nakache purchased 13,157 shares of ThredUp stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the transaction, the director directly owned 14,017 shares of the company’s stock, valued at $52,283.41. This trade represents a 1,529.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 27.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Telsey Advisory Group decreased their target price on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Wells Fargo & Company cut their price target on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

ThredUp Price Performance

TDUP opened at $3.42 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $427.98 million, a PE ratio of -22.80 and a beta of 1.72. The stock’s 50 day moving average price is $4.94 and its 200-day moving average price is $7.33. ThredUp Inc. has a 52-week low of $2.16 and a 52-week high of $12.28.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. On average, equities research analysts predict that ThredUp Inc. will post -0.56 EPS for the current year.

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.