US stock futures dip as Trump’s firing of Cook sparks Fed independence fears
Patricia Nakache, a director at ThredUp Inc. (NASDAQ:TDUP), has sold a significant portion of her holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transactions come as ThredUp’s stock has shown remarkable momentum, with a 307% surge over the past six months and an 89% gain year-to-date. The transactions, which took place over three consecutive days, involved the sale of Class A Common Stock at prices ranging from $2.30 to $2.61 per share, totaling approximately $2,970,921. InvestingPro data shows the stock is trading near its 52-week high of $2.68.
The sales were executed through various funds associated with Trinity Ventures, including Trinity Ventures X, L.P., Trinity X Entrepreneurs’ Fund, L.P., and Trinity X Side-By-Side Fund, L.P. The transactions were part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks at a later date, providing a defense against accusations of insider trading. The company, currently valued at $295 million, maintains impressive gross profit margins of 68%.
On February 3, Nakache sold 479,861 shares, followed by an additional 309,910 shares on February 4, and 420,711 shares on February 5. These sales were executed at weighted average prices, reflecting multiple transactions within the given price ranges.
Following these transactions, Nakache retains indirect ownership of a small number of shares through TVL Management Corp., and direct ownership of 250,956 shares. The transactions highlight a strategic move by Nakache, who shares voting and dispositive power over the shares held by the Trinity Funds. According to InvestingPro, which offers 13 additional investment tips for ThredUp, the stock’s recent performance and valuation metrics suggest careful analysis is warranted for potential investors.
In other recent news, ThredUp Inc. has seen significant developments in its operations. The company reported a 9% increase in revenue, as well as an adjusted EBITDA margin exceeding 6% in the U.S. market. This improvement was acknowledged by Needham analysts, who maintained their Hold rating for ThredUp, indicating a belief that the company’s stock is appropriately valued at present.
ThredUp also announced strong preliminary results for its fourth quarter, with total revenue, gross margin, and Adjusted EBITDA margin all surpassing the company’s guidance for its U.S. operations. This robust performance was attributed to the implementation of AI-driven enhancements and a focus on the U.S. market.
In addition to these financial achievements, ThredUp regained compliance with the minimum bid price requirements for continued listing on both The Nasdaq Global Select Market and the Long Term Stock Exchange (LTSE). This development followed the company’s previous non-compliance notifications.
In a strategic move, ThredUp divested its European arm, Remix, to concentrate on its primary U.S. market. The company, however, maintains a minority stake in Remix. These recent developments reflect ThredUp’s efforts to enhance its operations and maintain a strong position in the marketplace.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.