RealReal (NASDAQ:REAL) Hits New 12-Month High – Here’s Why
by Michael Walen · The Markets DailyThe RealReal, Inc. (NASDAQ:REAL – Get Free Report)’s stock price hit a new 52-week high on Monday . The company traded as high as $16.80 and last traded at $16.78, with a volume of 734839 shares trading hands. The stock had previously closed at $16.45.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Roth Capital set a $17.50 price objective on RealReal and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $15.00 price target on shares of RealReal in a report on Wednesday, December 17th. BTIG Research boosted their price target on shares of RealReal from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. KeyCorp raised shares of RealReal from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen cut shares of RealReal from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.07.
Check Out Our Latest Stock Report on REAL
RealReal Price Performance
The stock’s 50 day simple moving average is $14.44 and its two-hundred day simple moving average is $10.42. The company has a market capitalization of $1.95 billion, a P/E ratio of -12.11 and a beta of 2.60.
RealReal (NASDAQ:REAL – Get Free Report) last released 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 firm had revenue of $173.57 million for the quarter, compared to analyst estimates of $169.01 million. As a group, equities research analysts expect that The RealReal, Inc. will post -0.4 earnings per share for the current year.
Insider Activity at RealReal
In other news, CFO Gopal Ajay Madan sold 28,520 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $14.73, for a total transaction of $420,099.60. Following the transaction, the chief financial officer owned 1,156,092 shares of the company’s stock, valued at $17,029,235.16. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Steve Ming Lo sold 59,789 shares of RealReal stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $14.46, for a total value of $864,548.94. Following the completion of the sale, the chief accounting officer owned 249,553 shares of the company’s stock, valued at approximately $3,608,536.38. The trade was a 19.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,823,249 shares of company stock valued at $209,258,341 over the last quarter. 9.00% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On RealReal
Several large investors have recently bought and sold shares of the business. Quarry LP bought a new position in RealReal in the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in shares of RealReal in the 3rd quarter valued at $31,000. State of Alaska Department of Revenue bought a new position in shares of RealReal in the 3rd quarter worth $59,000. Farther Finance Advisors LLC bought a new position in shares of RealReal in the 2nd quarter worth $60,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of RealReal during the second quarter worth $101,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.
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.