Landscape Capital Management L.L.C. Makes New Investment in ThredUp Inc. $TDUP

Landscape Capital Management L.L.C. purchased a new stake in ThredUp Inc. (NASDAQ:TDUP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 781,953 shares of the company’s stock, valued at approximately $7,389,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TDUP. Bank of America Corp DE boosted its stake in shares of ThredUp by 42.6% during the 4th quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock worth $108,000 after acquiring an additional 23,156 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of ThredUp by 7.6% during the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after purchasing an additional 2,659 shares during the period. AQR Capital Management LLC lifted its holdings in shares of ThredUp by 185.9% during the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock valued at $228,000 after purchasing an additional 61,547 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after purchasing an additional 2,034 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of ThredUp by 39.2% in the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock valued at $223,000 after purchasing an additional 25,995 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Stock Up 1.9%

NASDAQ TDUP traded up $0.07 during trading on Friday, reaching $3.63. 131,620 shares of the company’s stock were exchanged, compared to its average volume of 2,217,343. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. ThredUp Inc. has a fifty-two week low of $2.16 and a fifty-two week high of $12.28. The company’s fifty day simple moving average is $4.99 and its 200-day simple moving average is $7.45. The firm has a market capitalization of $453.76 million, a PE ratio of -24.23 and a beta of 1.72.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Sell-side analysts predict that ThredUp Inc. will post -0.56 EPS for the current year.

Insider Activity at ThredUp

In related news, Director Patricia Nakache acquired 13,157 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $3.73 per share, for a total transaction of $49,075.61. Following the purchase, the director owned 14,017 shares in the company, valued at $52,283.41. This represents a 1,529.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher Homer sold 69,741 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $266,410.62. Following the completion of the sale, the chief operating officer owned 1,274,906 shares of the company’s stock, valued at approximately $4,870,140.92. The trade was a 5.19% decrease in their position. The SEC filing for this sale provides additional information. 27.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TDUP. Wells Fargo & Company cut their price objective on ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Monday, December 29th. Telsey Advisory Group dropped their target price on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ThredUp presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.