RealReal (NASDAQ:REAL) Sets New 52-Week High – Here’s Why

The RealReal, Inc. (NASDAQ:REAL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.33 and last traded at $16.0210, with a volume of 1251792 shares changing hands. The stock had previously closed at $15.56.

Analyst Ratings Changes

Several research analysts recently commented on REAL shares. William Blair started coverage on RealReal in a research note on Monday, December 15th. They set an “outperform” rating for the company. UBS Group raised their price objective on RealReal from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Wall Street Zen raised shares of RealReal from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Roth Capital set a $17.50 target price on RealReal and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, KeyCorp upgraded shares of RealReal from a “sector weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.36.

RealReal Price Performance

The company has a market cap of $1.87 billion, a price-to-earnings ratio of -11.61 and a beta of 2.68. The firm’s 50-day moving average price is $13.31 and its 200-day moving average price is $9.43.

RealReal (NASDAQ:REAL) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.35). The business had revenue of $173.57 million for the quarter, compared to the consensus estimate of $169.01 million. On average, sell-side analysts anticipate that The RealReal, Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at RealReal

In other news, CFO Gopal Ajay Madan sold 28,520 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $14.73, for a total transaction of $420,099.60. Following the completion of the transaction, the chief financial officer owned 1,156,092 shares in the company, valued at approximately $17,029,235.16. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd A. Suko sold 72,933 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $14.10, for a total transaction of $1,028,355.30. Following the completion of the sale, the insider owned 606,510 shares of the company’s stock, valued at approximately $8,551,791. This trade represents a 10.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,823,249 shares of company stock worth $209,258,341 over the last 90 days. Corporate insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On RealReal

Several institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in RealReal in the 3rd quarter worth approximately $28,000. Game Plan Financial Advisors LLC boosted its stake in shares of RealReal by 52.8% in the 1st quarter. Game Plan Financial Advisors LLC now owns 5,500 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of RealReal during the third quarter worth approximately $31,000. AlphaQuest LLC bought a new position in RealReal in the 1st quarter valued at $59,000. Finally, State of Alaska Department of Revenue acquired a new position in RealReal during the 3rd quarter worth about $59,000. 64.73% of the stock is currently owned by institutional investors.

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.