Creekside Partners Makes New $51,000 Investment in ThredUp Inc. (NASDAQ:TDUP)

Creekside Partners acquired a new stake in ThredUp Inc. (NASDAQ:TDUP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,005 shares of the company’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in TDUP. Squarepoint Ops LLC raised its stake in ThredUp by 72.6% in the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after buying an additional 169,196 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp in the 2nd quarter worth $43,000. Marshall Wace LLP lifted its stake in shares of ThredUp by 37.4% during the 2nd quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock worth $1,312,000 after purchasing an additional 209,792 shares during the last quarter. Sei Investments Co. bought a new stake in ThredUp during the second quarter valued at about $37,000. Finally, Blair William & Co. IL boosted its position in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after purchasing an additional 674,852 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

ThredUp Stock Performance

NASDAQ:TDUP opened at $0.80 on Thursday. The company has a market capitalization of $87.69 million, a P/E ratio of -1.24 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. ThredUp Inc. has a 12 month low of $0.61 and a 12 month high of $3.87. The firm has a fifty day simple moving average of $1.00 and a 200-day simple moving average of $1.54.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. The firm had revenue of $79.76 million during the quarter, compared to analyst estimates of $82.58 million. During the same period in the prior year, the company posted ($0.18) earnings per share. On average, equities research analysts anticipate that ThredUp Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at ThredUp

In other ThredUp news, Director Noam Paransky purchased 180,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $0.81 per share, with a total value of $145,800.00. Following the completion of the acquisition, the director now owns 426,444 shares in the company, valued at $345,419.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Noam Paransky acquired 180,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $0.81 per share, for a total transaction of $145,800.00. Following the transaction, the director now owns 426,444 shares in the company, valued at approximately $345,419.64. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Patricia Nakache sold 119,221 shares of ThredUp stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1.78, for a total transaction of $212,213.38. Following the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at $427,979.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 385,008 shares of company stock worth $308,906 and have sold 367,645 shares worth $703,755. Company insiders own 34.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TDUP. Wells Fargo & Company decreased their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 target price on shares of ThredUp in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.33.

ThredUp Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.