RealReal (NASDAQ:REAL) Rating Lowered to “Hold” at Wall Street Zen
by Tristan Rich · The Markets DailyRealReal (NASDAQ:REAL – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.
REAL has been the subject of several other reports. Robert W. Baird raised their target price on RealReal from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. KeyCorp increased their price target on RealReal from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. UBS Group raised their price objective on RealReal from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Northland Securities set a $20.00 price objective on RealReal in a research note on Wednesday, January 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $18.00 target price on shares of RealReal in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.06.
Check Out Our Latest Report on REAL
RealReal Stock Performance
Shares of NASDAQ:REAL opened at $12.08 on Friday. The firm has a market cap of $1.46 billion, a PE ratio of -11.08 and a beta of 2.81. The firm’s fifty day moving average is $10.47 and its 200-day moving average is $12.69. RealReal has a 52 week low of $4.70 and a 52 week high of $17.39.
Insider Buying and Selling
In related news, CEO Levesque Rati Sahi sold 121,399 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.72, for a total transaction of $1,301,397.28. Following the transaction, the chief executive officer owned 1,482,779 shares in the company, valued at $15,895,390.88. The trade was a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Steve Ming Lo sold 16,962 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.72, for a total transaction of $181,832.64. Following the transaction, the chief accounting officer directly owned 170,236 shares in the company, valued at approximately $1,824,929.92. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 286,883 shares of company stock worth $3,001,619 over the last ninety days. 9.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On RealReal
Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in RealReal in the 3rd quarter valued at about $2,177,000. BIT Capital GmbH bought a new position in RealReal in the third quarter worth approximately $10,912,000. Penn Capital Management Company LLC bought a new position in RealReal in the third quarter worth approximately $12,585,000. American Century Companies Inc. grew its stake in RealReal by 3,474.7% in the third quarter. American Century Companies Inc. now owns 1,837,907 shares of the company’s stock valued at $19,537,000 after acquiring an additional 1,786,493 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in RealReal by 501.0% in the third quarter. Jupiter Asset Management Ltd. now owns 1,961,057 shares of the company’s stock valued at $20,846,000 after acquiring an additional 1,634,782 shares during the period. Institutional investors own 64.73% of the company’s stock.
About RealReal
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.