Dimensional Fund Advisors LP Trims Position in ThredUp Inc. (NASDAQ:TDUP)

Dimensional Fund Advisors LP lessened its stake in shares of ThredUp Inc. (NASDAQ:TDUP) by 29.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,597 shares of the company’s stock after selling 57,074 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ThredUp were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors grew its holdings in ThredUp by 1.5% during the 1st quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock valued at $17,415,000 after buying an additional 127,600 shares in the last quarter. Bares Capital Management Inc. grew its holdings in ThredUp by 11.4% during the 1st quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after buying an additional 362,221 shares in the last quarter. Acadian Asset Management LLC grew its holdings in ThredUp by 22.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after buying an additional 251,629 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in ThredUp by 20.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 496,833 shares of the company’s stock valued at $845,000 after buying an additional 84,248 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in ThredUp by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,799 shares of the company’s stock valued at $467,000 after buying an additional 20,933 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Stock Down 4.2 %

Shares of TDUP opened at $0.79 on Tuesday. The firm has a market cap of $86.56 million, a P/E ratio of -1.23 and a beta of 0.71. The stock has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $1.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. ThredUp Inc. has a 1 year low of $0.61 and a 1 year high of $3.80.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period in the prior year, the company earned ($0.18) EPS. On average, analysts forecast that ThredUp Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Insider Activity

In related news, Director Noam Paransky acquired 180,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $0.81 per share, with a total value of $145,800.00. Following the completion of the purchase, the director now owns 426,444 shares in the company, valued at $345,419.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ThredUp news, Director Noam Paranksy purchased 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $0.80 per share, with a total value of $72,000.00. Following the completion of the purchase, the director now directly owns 246,444 shares of the company’s stock, valued at $197,155.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Noam Paransky purchased 180,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $0.81 per share, with a total value of $145,800.00. Following the purchase, the director now directly owns 426,444 shares of the company’s stock, valued at $345,419.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 385,008 shares of company stock valued at $308,906 and sold 181,028 shares valued at $370,910. Insiders own 34.42% of the company’s stock.

About ThredUp

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.