RealReal (NASDAQ:REAL) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of RealReal (NASDAQ:REAL) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities analysts also recently commented on the company. Northland Securities set a $20.00 price objective on RealReal in a research report on Wednesday, January 14th. Robert W. Baird raised their target price on shares of RealReal from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, February 27th. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of RealReal in a research note on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RealReal in a report on Thursday, January 22nd. Finally, KeyCorp increased their price objective on shares of RealReal from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

RealReal Price Performance

REAL opened at $11.83 on Friday. The business has a fifty day moving average price of $10.45 and a 200 day moving average price of $12.69. RealReal has a 12 month low of $4.70 and a 12 month high of $17.39. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -10.85 and a beta of 2.81.

Insider Buying and Selling at RealReal

In other news, insider Luke Thomas Friang sold 19,609 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.72, for a total value of $210,208.48. Following the transaction, the insider owned 479,656 shares in the company, valued at approximately $5,141,912.32. This represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd A. Suko sold 45,947 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.72, for a total value of $492,551.84. Following the sale, the insider directly owned 560,563 shares in the company, valued at $6,009,235.36. This trade represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 286,883 shares of company stock worth $3,001,619. Corporate insiders own 9.00% of the company’s stock.

Institutional Trading of RealReal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in shares of RealReal by 589.2% in the 1st quarter. AQR Capital Management LLC now owns 887,997 shares of the company’s stock valued at $4,786,000 after buying an additional 759,160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RealReal by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,437 shares of the company’s stock worth $326,000 after acquiring an additional 3,500 shares in the last quarter. Millennium Management LLC lifted its position in RealReal by 1.9% in the first quarter. Millennium Management LLC now owns 883,690 shares of the company’s stock valued at $4,763,000 after acquiring an additional 16,136 shares during the last quarter. Legal & General Group Plc lifted its position in RealReal by 14.1% in the second quarter. Legal & General Group Plc now owns 81,292 shares of the company’s stock valued at $389,000 after acquiring an additional 10,052 shares during the last quarter. Finally, Amundi acquired a new position in RealReal in the second quarter valued at $197,000. 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.