RealReal (NASDAQ:REAL) Hits New 12-Month High – Still a Buy?

The RealReal, Inc. (NASDAQ:REAL) shares hit a new 52-week high on Tuesday . The company traded as high as $16.74 and last traded at $16.39, with a volume of 94426 shares trading hands. The stock had previously closed at $16.36.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. B. Riley lifted their price target on RealReal from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. KeyCorp raised RealReal from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RealReal in a report on Wednesday, October 8th. Finally, Roth Capital set a $17.50 price target on shares of RealReal and gave the company a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.79.

RealReal Price Performance

The company has a 50 day moving average price of $13.74 and a 200 day moving average price of $9.72. The firm has a market cap of $1.89 billion, a PE ratio of -11.76 and a beta of 2.68.

RealReal (NASDAQ:REAL) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that The RealReal, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gilbert L. Baird III sold 7,686,442 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $13.21, for a total transaction of $101,537,898.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gopal Ajay Madan sold 30,196 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $13.06, for a total value of $394,359.76. Following the completion of the sale, the chief financial officer directly owned 1,184,612 shares of the company’s stock, valued at $15,471,032.72. This represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,823,249 shares of company stock valued at $209,258,341 over the last ninety days. 9.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RealReal

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of RealReal in the 3rd quarter valued at about $28,000. Game Plan Financial Advisors LLC boosted its stake in shares of RealReal by 52.8% during the 1st quarter. Game Plan Financial Advisors LLC now owns 5,500 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Larson Financial Group LLC purchased a new position in RealReal in the 3rd quarter valued at approximately $31,000. AlphaQuest LLC purchased a new stake in RealReal during the first quarter worth $59,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of RealReal during the 3rd quarter worth $59,000. 64.73% of the stock is currently owned by hedge funds and other 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.