Bank of America Corp DE Acquires 1,073,326 Shares of The RealReal, Inc. $REAL

Key Points

• Bank of America acquired 1.07 million shares of The RealReal during the second quarter, valued at approximately $12.7 million and representing about 0.88% of the company.
• Institutional interest increased broadly, with BlackRock acquiring a roughly $134.5 million position and other firms including Arrowstreet Capital and Renaissance Technologies expanding their holdings. Institutions and hedge funds now own 64.73% of RealReal.
• RealReal reported quarterly revenue of $192.6 million, up 16.6% year over year, and exceeded EPS expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $17.75, although the stock recently traded at $8.83.

Bank of America Corp DE acquired a new stake in The RealReal, Inc. (NASDAQ:REAL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,073,326 shares of the company's stock, valued at approximately $12,655,000. Bank of America Corp DE owned approximately 0.88% of RealReal as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in RealReal during the second quarter worth about $134,510,000. AWM Investment Company Inc. purchased a new position in RealReal during the second quarter worth approximately $21,265,000. Arrowstreet Capital Limited Partnership boosted its stake in RealReal by 58.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,049,042 shares of the company's stock worth $36,765,000 after buying an additional 1,489,939 shares during the last quarter. Renaissance Technologies LLC boosted its stake in RealReal by 117.9% during the first quarter. Renaissance Technologies LLC now owns 1,646,200 shares of the company's stock worth $14,947,000 after buying an additional 890,700 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in RealReal in the 2nd quarter valued at $7,937,000. Institutional investors and hedge funds own 64.73% of the company's stock.

RealReal Price Performance

Shares of NASDAQ REAL opened at $8.83 on Friday. The stock's 50-day moving average is $10.83 and its two-hundred day moving average is $10.58. The RealReal, Inc. has a 1-year low of $8.05 and a 1-year high of $17.39. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -7.88 and a beta of 2.71.

RealReal (NASDAQ:REAL - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $192.57 million during the quarter, compared to analysts' expectations of $188.11 million. The company's revenue was up 16.6% on a year-over-year basis. Equities research analysts anticipate that The RealReal, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on REAL shares. UBS Group lifted their price target on RealReal from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of RealReal in a report on Friday, July 17th. BTIG Research restated a "buy" rating and set a $17.00 price objective on shares of RealReal in a research report on Thursday, September 17th. Finally, Roth Capital restated a "buy" rating and set a $19.00 price objective on shares of RealReal in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.75.

Insider Buying and Selling at RealReal

In other news, insider Todd Suko sold 17,567 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.97, for a total transaction of $192,709.99. Following the sale, the insider owned 587,897 shares of the company's stock, valued at approximately $6,449,230.09. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luke Friang sold 22,028 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $10.98, for a total value of $241,867.44. Following the completion of the transaction, the insider directly owned 508,648 shares of the company's stock, valued at $5,584,955.04. This trade represents a 4.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 173,004 shares of company stock worth $1,899,283. Corporate insiders own 2.66% of the company's stock.

RealReal Company Profile

The RealReal, Inc NASDAQ: REAL operates an online and brick-and-mortar marketplace for authenticated, pre-owned luxury goods. The company connects individuals and businesses seeking to sell luxury items with consumers looking to purchase them, handling consignment, authentication, merchandising, and fulfillment.

Its marketplace offers products across categories including women's and men's fashion, handbags, shoes, jewelry, watches, fine art, and home goods. The RealReal sells through its website and mobile applications, as well as through physical retail locations and other selling channels.

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