Geode Capital Management LLC Raises Position in ThredUp Inc. (NASDAQ:TDUP)

Geode Capital Management LLC grew its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,889,294 shares of the company’s stock after purchasing an additional 74,334 shares during the period. Geode Capital Management LLC’s holdings in ThredUp were worth $1,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TDUP. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 20,933 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of ThredUp by 6.5% during the second quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock valued at $179,000 after purchasing an additional 6,421 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of ThredUp by 22.8% during the second 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 during the last quarter. Renaissance Technologies LLC increased its holdings in ThredUp by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 444,412 shares of the company’s stock worth $756,000 after buying an additional 91,708 shares in the last quarter. Finally, Blair William & Co. IL raised its position in ThredUp by 285.0% in the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after buying an additional 674,852 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

ThredUp Price Performance

NASDAQ TDUP opened at $1.34 on Thursday. The business’s fifty day moving average is $1.34 and its 200 day moving average is $1.20. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market capitalization of $152.44 million, a PE ratio of -2.09 and a beta of 1.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TDUP. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 target price on shares of ThredUp in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.40.

Insider Transactions at ThredUp

In other news, Director Patricia Nakache sold 54,801 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.78, for a total value of $97,545.78. Following the completion of the sale, the director now directly owns 247 shares of the company’s stock, valued at $439.66. This represents a 99.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Nova acquired 45,897 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the transaction, the director now directly owns 124,142 shares in the company, valued at approximately $124,142. This trade represents a 58.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 214,797 shares of company stock valued at $264,905 and have sold 101,277 shares valued at $179,808. Corporate 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.