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Patricia Nakache, a director at ThredUp Inc. (NASDAQ:TDUP), has sold a significant portion of her holdings in the company. According to a recent SEC filing, Nakache executed sales of ThredUp’s Class A common stock totaling approximately $2.45 million. The transactions took place over several days, with shares sold at prices ranging from $3.25 to $3.43 each. The stock, currently trading at $3.33, has shown remarkable strength with a 310% return over the past six months, according to InvestingPro data.
On April 15, Nakache sold 267,633 shares held by Trinity Ventures X, L.P., and smaller amounts from related funds, totaling 271,762 shares at a weighted average price of $3.43. On April 16, she sold an additional 278,218 shares at a weighted average price of $3.25. Finally, on April 17, Nakache sold 187,179 shares at a weighted average price of $3.30.
These sales were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential accusations of insider trading. Nakache, who is affiliated with several investment funds, disclaims beneficial ownership of the shares except to the extent of her pecuniary interest.
Despite these sales, Nakache retains a direct ownership of 250,956 shares in ThredUp, as indicated in the filing. The company, with a market capitalization of $386 million, maintains impressive gross profit margins of nearly 80% despite current profitability challenges, according to InvestingPro analysis.
In other recent news, ThredUp Inc. reported its fourth-quarter 2024 earnings, revealing a miss on earnings per share (EPS) expectations. The company posted an EPS of -$0.19, falling short of the forecasted -$0.13, with revenue reaching $67.3 million, slightly below projections of $68.58 million. Despite these results, ThredUp’s gross margin improved to 80.4%, up 290 basis points from the previous year. Additionally, ThredUp forecasts 2025 revenue between $270 million and $280 million, representing a 6% growth. The company aims to maintain a gross margin of 77-79% and achieve flat adjusted EBITDA compared to 2024. In another development, ThredUp announced that board member Jack Lazar plans to resign after the company’s annual stockholders meeting in May 2025. This change in board composition comes as ThredUp continues to navigate the competitive e-commerce landscape. The company has not yet announced a successor for Lazar’s position on the board.
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