Bank of New York Mellon Corp Sells 40,924 Shares of ThredUp Inc. (NASDAQ:TDUP)

Bank of New York Mellon Corp trimmed its stake in shares of ThredUp Inc. (NASDAQ:TDUP) by 18.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 179,084 shares of the company’s stock after selling 40,924 shares during the quarter. Bank of New York Mellon Corp’s holdings in ThredUp were worth $249,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TDUP. State Street Corp lifted its holdings in shares of ThredUp by 0.9% during the 3rd quarter. State Street Corp now owns 1,443,177 shares of the company’s stock worth $1,215,000 after acquiring an additional 12,984 shares during the period. Geode Capital Management LLC lifted its stake in ThredUp by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,889,294 shares of the company’s stock worth $1,591,000 after purchasing an additional 74,334 shares during the last quarter. Barclays PLC boosted its holdings in shares of ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company’s stock valued at $87,000 after purchasing an additional 76,553 shares in the last quarter. Finally, Needham Investment Management LLC increased its stake in shares of ThredUp by 7.2% in the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company’s stock valued at $5,220,000 after purchasing an additional 415,000 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Price Performance

TDUP stock opened at $2.59 on Friday. The company has a market capitalization of $300.95 million, a P/E ratio of -4.05 and a beta of 1.73. The company has a fifty day moving average price of $2.45 and a 200-day moving average price of $1.61. 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 52-week low of $0.50 and a 52-week high of $2.99.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Tuesday, March 4th. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research note on Tuesday, March 4th.

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 625,498 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $1.95, for a total transaction of $1,219,721.10. Following the transaction, the director now owns 250,956 shares in the company, valued at $489,364.20. The trade was a 71.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,833,612 shares of company stock worth $6,633,229 over the last ninety days. 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.