RealReal (NASDAQ:REAL) CAO Sells $137,772.23 in Stock

Key Points

• Chief Accounting Officer Steve Ming Lo sold 12,559 RealReal shares at an average price of $10.97, generating $137,772.23. His remaining stake totaled 176,910 shares, representing a 6.63% reduction in ownership.
• RealReal shares rose 1.3% to $11.27, while the company’s latest quarterly results exceeded expectations: adjusted EPS was a $0.01 loss versus the expected $0.02 loss, and revenue increased 16.6% year over year to $192.57 million.
• Institutional investors owned 64.73% of the stock, with several funds increasing or initiating positions. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $17.75, despite one sell rating.

The RealReal, Inc. (NASDAQ:REAL - Get Free Report) CAO Steve Ming Lo sold 12,559 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.97, for a total transaction of $137,772.23. Following the transaction, the chief accounting officer owned 176,910 shares in the company, valued at approximately $1,940,702.70. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

RealReal Trading Up 1.3%

Shares of NASDAQ:REAL traded up $0.15 during trading on Monday, hitting $11.27. 2,717,311 shares of the company's stock were exchanged, compared to its average volume of 3,376,204. The firm has a market cap of $1.37 billion, a P/E ratio of -10.06 and a beta of 2.69. The firm has a 50-day moving average price of $11.66 and a two-hundred day moving average price of $10.93. The RealReal, Inc. has a 1-year low of $7.21 and a 1-year high of $17.39.

RealReal (NASDAQ:REAL - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $192.57 million during the quarter, compared to analyst estimates of $188.11 million. The business's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, research analysts predict that The RealReal, Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REAL. California State Teachers Retirement System grew its stake in RealReal by 1,050.0% in the second quarter. California State Teachers Retirement System now owns 1,568,836 shares of the company's stock valued at $18,497,000 after acquiring an additional 1,432,414 shares during the period. Angeles Wealth Management LLC acquired a new stake in shares of RealReal during the second quarter worth about $1,290,000. Hsbc Holdings PLC lifted its holdings in shares of RealReal by 37.4% during the 2nd quarter. Hsbc Holdings PLC now owns 51,907 shares of the company's stock valued at $619,000 after purchasing an additional 14,128 shares in the last quarter. Cannell Capital LLC bought a new position in shares of RealReal during the 2nd quarter valued at about $271,630,000. Finally, Bank of America Corp DE acquired a new position in shares of RealReal in the 2nd quarter valued at approximately $12,655,000. 64.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on REAL. Roth Capital reaffirmed a "buy" rating and set a $19.00 price objective on shares of RealReal in a research note on Friday, August 7th. BTIG Research restated a "buy" rating and set a $17.00 target price on shares of RealReal in a report on Wednesday, June 3rd. UBS Group boosted their target price on RealReal from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of RealReal in a research report on Friday, July 17th. Finally, Robert W. Baird set a $13.00 price objective on shares of RealReal in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, RealReal presently has a consensus rating of "Moderate Buy" and an average price target of $17.75.

RealReal Company 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.

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