Granahan Investment Management LLC reduced its stake in ThredUp Inc. (NASDAQ:TDUP – Get Rating) by 50.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,219,610 shares of the company's stock after selling 1,256,453 shares during the quarter. Granahan Investment Management LLC owned 1.23% of ThredUp worth $9,391,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Hardy Reed LLC acquired a new position in shares of ThredUp in the 1st quarter worth approximately $48,000. Teacher Retirement System of Texas purchased a new stake in ThredUp during the 1st quarter worth approximately $81,000. Ensign Peak Advisors Inc purchased a new stake in ThredUp during the 4th quarter worth approximately $89,000. Arizona State Retirement System purchased a new stake in ThredUp during the 1st quarter worth approximately $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in ThredUp during the 1st quarter worth approximately $121,000. 59.63% of the stock is currently owned by institutional investors and hedge funds.
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ThredUp Stock Up 8.2 %
TDUP stock opened at $2.89 on Friday. ThredUp Inc. has a one year low of $1.90 and a one year high of $23.70. The stock has a market capitalization of $289.23 million, a PE ratio of -3.48 and a beta of 0.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 1.77. The company has a fifty day moving average of $2.53 and a 200-day moving average of $4.83.
ThredUp (NASDAQ:TDUP – Get Rating) last released its earnings results on Monday, August 15th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). ThredUp had a negative return on equity of 41.55% and a negative net
margin of 28.65%. The firm had revenue of $76.42 million during the quarter, compared to analyst estimates of $76.04 million. During the same quarter last year, the business posted ($0.15) EPS. The firm's revenue was up 27.5% on a year-over-year basis. As a group, analysts expect that ThredUp Inc. will post -0.88 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Piper Sandler downgraded shares of ThredUp from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $12.00 to $3.50 in a research note on Friday, July 22nd. Barclays cut their target price on shares of ThredUp from $9.00 to $6.00 and set an "overweight" rating on the stock in a research note on Monday, August 15th. Guggenheim dropped their price objective on shares of ThredUp to $8.00 in a research report on Monday, August 22nd. Telsey Advisory Group dropped their price objective on shares of ThredUp from $11.00 to $7.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 16th. Finally, Raymond James started coverage on shares of ThredUp in a research report on Wednesday, June 29th. They issued an "outperform" rating and a $7.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, ThredUp has a consensus rating of "Moderate Buy" and an average target price of $9.58.
ThredUp Company Profile
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ThredUp Inc, together with its subsidiaries, operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.
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