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Patricia Nakache, a director at ThredUp Inc. (NASDAQ:TDUP), has recently sold shares amounting to $224,841. The transactions, disclosed in a Form 4 filing with the Securities and Exchange Commission, took place over two days, February 20 and 21, 2025. The timing of these sales comes as ThredUp’s stock has shown remarkable momentum, with a 213% surge over the past six months, according to InvestingPro data.
On February 20, Nakache sold a total of 60,274 shares at a weighted average price of $2.71 per share. The following day, she sold an additional 22,527 shares at a weighted average price of $2.73 per share. These sales were executed under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 8 additional exclusive ProTips available for subscribers.
Prior to these transactions, Nakache converted Class B Common Stock into Class A Common Stock, as indicated in the filing. This conversion was carried out without any additional consideration, as each Class B share was exchanged for one Class A share.
Following these sales, Nakache retains direct ownership of 250,956 shares of ThredUp’s Class A Common Stock, alongside indirect holdings through various Trinity Ventures funds. The filing notes that Nakache shares voting and dispositive power over these shares with other management members of the Trinity Funds.
ThredUp, headquartered in Oakland, California, is a leading online resale platform for women’s and kids’ apparel, shoes, and accessories. The company maintains impressive gross profit margins of 68%, though it operates with a moderate debt level and a market capitalization of $292 million.
In other recent news, ThredUp Inc. reported a 9% increase in revenue and an adjusted EBITDA margin greater than 6% in its U.S. market, as highlighted at the Needham Growth Conference. The company’s CEO and CFO attributed this positive performance to successful promotional strategies and improvements in operational efficiencies, supported by investments in artificial intelligence and automation. ThredUp also announced preliminary fourth-quarter results that exceeded its guidance, indicating significant growth and improved margins in its core U.S. operations. The company credits AI-driven enhancements and long-term investments for this robust performance, with CEO James Reinhart expressing optimism for continued momentum into 2025.
ThredUp has also regained compliance with the minimum bid price requirements for listing on both The Nasdaq Global Select Market and the Long Term Stock Exchange. This follows a period of non-compliance earlier in the year. Additionally, ThredUp has divested its European business, Remix, through a management buyout, allowing the company to focus more on its U.S. market. ThredUp maintains a minority stake in Remix and provided a $2 million cash infusion to support its operations before the transaction’s conclusion. Needham analysts have reaffirmed a Hold rating for ThredUp, advising investors to maintain their current positions.
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