ThredUp Inc. (NASDAQ:TDUP) Holdings Lifted by Needham Investment Management LLC

Needham Investment Management LLC boosted its position in shares of ThredUp Inc. (NASDAQ:TDUP) by 7.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,200,000 shares of the company’s stock after buying an additional 415,000 shares during the period. Needham Investment Management LLC owned 0.06% of ThredUp worth $5,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TDUP. Price T Rowe Associates Inc. MD boosted its position in ThredUp by 33.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after acquiring an additional 5,635 shares during the period. Rhumbline Advisers raised its stake in shares of ThredUp by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 105,057 shares of the company’s stock worth $179,000 after purchasing an additional 6,421 shares in the last quarter. Diversified Trust Co raised its stake in shares of ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after purchasing an additional 15,175 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of ThredUp by 84.8% during the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Trading Up 1.2 %

TDUP traded up $0.02 during midday trading on Tuesday, reaching $1.75. The company’s stock had a trading volume of 101,967 shares, compared to its average volume of 681,481. The company has a fifty day simple moving average of $0.91 and a 200 day simple moving average of $1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. ThredUp Inc. has a twelve month low of $0.50 and a twelve month high of $2.60.

Insider Buying and Selling at ThredUp

In related news, Director Daniel J. Nova purchased 24,897 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $1.47 per share, with a total value of $36,598.59. Following the purchase, the director now directly owns 303,930 shares in the company, valued at $446,777.10. This represents a 8.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Noam Paransky purchased 40,008 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $0.81 per share, for a total transaction of $32,406.48. Following the purchase, the director now owns 586,452 shares in the company, valued at $475,026.12. This represents a 7.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 499,805 shares of company stock valued at $492,711 in the last 90 days. 34.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TDUP has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company cut their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, ThredUp has an average rating of “Moderate Buy” and an average price target of $3.40.

ThredUp Company Profile

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.