Cannell Capital LLC Sells 1,070,126 Shares of The RealReal, Inc. $REAL

Cannell Capital LLC lowered its position in The RealReal, Inc. (NASDAQ:REAL) by 74.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,081 shares of the company’s stock after selling 1,070,126 shares during the period. Cannell Capital LLC owned about 0.31% of RealReal worth $3,817,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in RealReal in the 3rd quarter worth about $59,000. EHP Funds Inc. bought a new position in shares of RealReal during the 3rd quarter worth approximately $107,000. Alberta Investment Management Corp bought a new position in shares of RealReal during the 2nd quarter worth approximately $115,000. Great Lakes Advisors LLC purchased a new position in shares of RealReal in the 3rd quarter worth approximately $121,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of RealReal in the 3rd quarter worth approximately $127,000. 64.73% of the stock is owned by institutional investors.

RealReal Trading Down 4.1%

NASDAQ:REAL opened at $9.56 on Friday. The stock has a market capitalization of $1.14 billion, a PE ratio of -8.77 and a beta of 2.67. The firm’s 50 day moving average is $13.50 and its 200 day moving average is $12.63. The RealReal, Inc. has a 12 month low of $4.61 and a 12 month high of $17.39.

Analyst Upgrades and Downgrades

REAL has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of RealReal in a research report on Friday, February 27th. B. Riley Financial boosted their price objective on RealReal from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. KeyCorp upped their price objective on RealReal from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RealReal in a research report on Thursday, January 22nd. Finally, Northland Securities set a $20.00 target price on RealReal in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Insiders Place Their Bets

In other news, insider Todd A. Suko sold 45,947 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 $492,551.84. Following the completion of the transaction, the insider owned 560,563 shares in the company, valued at approximately $6,009,235.36. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Levesque Rati Sahi sold 121,399 shares of RealReal stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.72, for a total value of $1,301,397.28. Following the completion of the sale, the chief executive officer directly owned 1,482,779 shares of the company’s stock, valued at approximately $15,895,390.88. This trade represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 235,298 shares of company stock valued at $2,522,395. Company insiders own 9.00% of the company’s stock.

RealReal 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.