RealReal (NASDAQ:REAL) Stock Price Up 9.8% – Here’s What Happened

The RealReal, Inc. (NASDAQ:REAL)’s share price was up 9.8% during mid-day trading on Monday . The company traded as high as $9.40 and last traded at $9.49. Approximately 662,904 shares were traded during trading, a decline of 80% from the average daily volume of 3,268,876 shares. The stock had previously closed at $8.64.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of RealReal from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. KeyCorp upped their price objective on shares of RealReal from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen raised RealReal from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of RealReal in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.06.

RealReal Stock Performance

The stock’s 50 day simple moving average is $12.50 and its 200 day simple moving average is $12.73. The firm has a market cap of $1.05 billion, a P/E ratio of -8.12 and a beta of 2.67.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in RealReal during the third quarter worth $2,177,000. BIT Capital GmbH bought a new position in RealReal during the 3rd quarter valued at $10,912,000. Jupiter Asset Management Ltd. lifted its stake in RealReal by 501.0% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in RealReal by 189.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 920,365 shares of the company’s stock worth $9,793,000 after acquiring an additional 602,670 shares during the last quarter. Finally, Penn Capital Management Company LLC bought a new stake in shares of RealReal in the 3rd quarter worth $12,585,000. 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.