RealReal (NASDAQ:REAL) Sets New 52-Week High – Here’s Why
by Teresa Graham · The Cerbat GemShares of The RealReal, Inc. (NASDAQ:REAL – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $16.33 and last traded at $16.0210, with a volume of 1251792 shares. The stock had previously closed at $15.56.
Analyst Ratings Changes
Several analysts have issued reports on the company. BTIG Research lifted their price target on RealReal from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wells Fargo & Company raised their price objective on RealReal from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Robert W. Baird set a $15.00 target price on shares of RealReal in a report on Wednesday, December 17th. Wall Street Zen upgraded RealReal from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, B. Riley raised their price target on shares of RealReal from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.36.
View Our Latest Research Report on RealReal
RealReal Stock Performance
The firm has a market capitalization of $1.87 billion, a P/E ratio of -11.61 and a beta of 2.68. The stock has a 50 day moving average of $13.31 and a 200-day moving average of $9.43.
RealReal (NASDAQ:REAL – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The business had revenue of $173.57 million for the quarter, compared to analysts’ expectations of $169.01 million. As a group, sell-side analysts expect that The RealReal, Inc. will post -0.4 EPS for the current year.
Insider Buying and Selling
In other news, CEO Levesque Rati Sahi sold 97,036 shares of RealReal stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $13.06, for a total transaction of $1,267,290.16. Following the completion of the transaction, the chief executive officer directly owned 1,604,178 shares in the company, valued at approximately $20,950,564.68. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gopal Ajay Madan sold 30,196 shares of RealReal stock in a transaction on Friday, November 21st. The stock was sold at an average price of $13.06, for a total value of $394,359.76. Following the completion of the sale, the chief financial officer directly owned 1,184,612 shares of the company’s stock, valued at $15,471,032.72. The trade was a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,823,249 shares of company stock worth $209,258,341 over the last quarter. Company insiders own 9.00% of the company’s stock.
Institutional Investors Weigh In On RealReal
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of RealReal by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,929,807 shares of the company’s stock valued at $63,034,000 after purchasing an additional 425,674 shares in the last quarter. Kanen Wealth Management LLC boosted its stake in RealReal by 26.2% during the second quarter. Kanen Wealth Management LLC now owns 4,708,623 shares of the company’s stock worth $22,554,000 after buying an additional 978,660 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of RealReal by 3.4% in the second quarter. Marshall Wace LLP now owns 4,321,577 shares of the company’s stock valued at $20,700,000 after purchasing an additional 143,165 shares during the period. Two Sigma Investments LP grew its stake in shares of RealReal by 6.6% in the 3rd quarter. Two Sigma Investments LP now owns 2,628,770 shares of the company’s stock valued at $27,944,000 after buying an additional 162,804 shares during the period. Finally, Divisadero Street Capital Management LP grew its position in RealReal by 652.5% in the third quarter. Divisadero Street Capital Management LP now owns 2,599,801 shares of the company’s stock worth $27,636,000 after acquiring an additional 2,254,300 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.
RealReal Company Profile
The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.
At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.