State Street Corp Has $1.22 Million Position in ThredUp Inc. (NASDAQ:TDUP)

State Street Corp grew its stake in ThredUp Inc. (NASDAQ:TDUP) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,443,177 shares of the company’s stock after purchasing an additional 12,984 shares during the quarter. State Street Corp’s holdings in ThredUp were worth $1,215,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TDUP. Blair William & Co. IL raised its holdings in ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after acquiring an additional 674,852 shares during the period. SG Americas Securities LLC increased its stake in shares of ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after purchasing an additional 15,850 shares during the period. Sei Investments Co. bought a new position in shares of ThredUp during the second quarter worth approximately $37,000. Bank of New York Mellon Corp lifted 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 worth $467,000 after purchasing an additional 20,933 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in ThredUp by 22.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after purchasing an additional 251,629 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Price Performance

Shares of NASDAQ TDUP opened at $1.41 on Friday. The business has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.21. The stock has a market capitalization of $160.40 million, a PE ratio of -2.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.42.

Insider Buying and Selling

In other news, Director Daniel J. Nova acquired 45,191 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $0.97 per share, with a total value of $43,835.27. Following the completion of the purchase, the director now directly owns 54,112 shares of the company’s stock, valued at $52,488.64. The trade was a 506.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Nakache sold 41,676 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $1.77, for a total transaction of $73,766.52. Following the transaction, the director now owns 250,956 shares of the company’s stock, valued at approximately $444,192.12. This represents a 14.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 214,797 shares of company stock worth $264,905 and have sold 101,277 shares worth $179,808. 34.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TDUP has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.40.

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.