RealReal (NASDAQ:REAL) Sets New 52-Week High on Analyst Upgrade

The RealReal, Inc. (NASDAQ:REAL) shares reached a new 52-week high during trading on Tuesday after Northland Securities raised their price target on the stock from $6.50 to $12.50. Northland Securities currently has an outperform rating on the stock. RealReal traded as high as $9.78 and last traded at $9.31, with a volume of 890400 shares trading hands. The stock had previously closed at $9.25.

A number of other brokerages also recently weighed in on REAL. Northland Capmk raised RealReal to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company raised shares of RealReal from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $4.00 to $15.00 in a report on Monday, December 9th. Finally, UBS Group lifted their target price on RealReal from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, RealReal has an average rating of “Moderate Buy” and an average price target of $7.38.

Insiders Place Their Bets

In other news, CAO Steve Ming Lo sold 96,666 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.10, for a total transaction of $589,662.60. Following the completion of the transaction, the chief accounting officer now directly owns 391,525 shares in the company, valued at approximately $2,388,302.50. This represents a 19.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.78% of the company’s stock.

Institutional Investors Weigh In On RealReal

Hedge funds and other institutional investors have recently modified their holdings of the business. Anchorage Capital Advisors L.P. purchased a new stake in shares of RealReal during the 3rd quarter worth about $10,675,000. Woodson Capital Management LP grew its position in RealReal by 2.9% in the third quarter. Woodson Capital Management LP now owns 5,400,000 shares of the company’s stock worth $16,956,000 after acquiring an additional 150,000 shares during the period. Geode Capital Management LLC boosted its position in shares of RealReal by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,293,855 shares of the company’s stock worth $7,204,000 after purchasing an additional 44,716 shares during the period. State Street Corp raised its holdings in shares of RealReal by 22.3% in the 3rd quarter. State Street Corp now owns 1,701,387 shares of the company’s stock valued at $5,342,000 after buying an additional 310,116 shares during the period. Finally, Capricorn Fund Managers Ltd grew its position in RealReal by 40.4% in the 3rd quarter. Capricorn Fund Managers Ltd now owns 1,406,738 shares of the company’s stock valued at $4,417,000 after acquiring an additional 404,949 shares in the last quarter. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

RealReal Stock Up 0.6 %

The company’s 50-day moving average price is $4.64 and its 200-day moving average price is $3.65. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -10.51 and a beta of 3.09.

RealReal Company Profile

The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.