Needham Investment Management LLC Grows Stock Position in ThredUp Inc. (NASDAQ:TDUP)

Needham Investment Management LLC boosted its stake in ThredUp Inc. (NASDAQ:TDUP) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,200,000 shares of the company’s stock after acquiring an additional 415,000 shares during the quarter. Needham Investment Management LLC owned about 5.62% of ThredUp worth $5,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in ThredUp by 22.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after acquiring an additional 251,629 shares during the period. Blair William & Co. IL boosted its stake in shares of ThredUp by 285.0% during the 2nd quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after buying an additional 674,852 shares during the last quarter. Marshall Wace LLP boosted 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 valued at $1,312,000 after buying an additional 209,792 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of 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 acquiring an additional 84,248 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of ThredUp by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 444,412 shares of the company’s stock valued at $756,000 after acquiring an additional 91,708 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other ThredUp news, Director Noam Paransky purchased 180,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $345,419.64. This trade represents a 73.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Nova purchased 45,897 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $1.00 per share, for a total transaction of $45,897.00. Following the completion of the acquisition, the director now directly owns 124,142 shares of the company’s stock, valued at approximately $124,142. This trade represents a 58.66 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 499,805 shares of company stock valued at $492,711 over the last three months. Company insiders own 34.42% of the company’s stock.

Analyst Ratings Changes

TDUP has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of ThredUp in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.40.

ThredUp Stock Up 1.2 %

NASDAQ TDUP traded up $0.02 during trading hours on Tuesday, hitting $1.75. The company had a trading volume of 101,967 shares, compared to its average volume of 681,481. ThredUp Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $2.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The business has a fifty day simple moving average of $0.91 and a 200-day simple moving average of $1.28.

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.