Cannell Capital LLC Trims Stock Holdings in The RealReal, Inc. $REAL

Cannell Capital LLC lowered its holdings in The RealReal, Inc. (NASDAQ:REAL) by 74.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,081 shares of the company’s stock after selling 1,070,126 shares during the period. Cannell Capital LLC’s holdings in RealReal were worth $3,817,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in RealReal by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,929,807 shares of the company’s stock worth $63,034,000 after buying an additional 425,674 shares during the period. Marshall Wace LLP raised its holdings in RealReal by 3.4% during the 2nd quarter. Marshall Wace LLP now owns 4,321,577 shares of the company’s stock valued at $20,700,000 after acquiring an additional 143,165 shares during the period. Two Sigma Investments LP raised its holdings in RealReal by 6.6% during the 3rd quarter. Two Sigma Investments LP now owns 2,628,770 shares of the company’s stock valued at $27,944,000 after acquiring an additional 162,804 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of RealReal by 501.0% during the third quarter. Jupiter Asset Management Ltd. now owns 1,961,057 shares of the company’s stock worth $20,846,000 after acquiring an additional 1,634,782 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of RealReal by 10.1% during the second quarter. Squarepoint Ops LLC now owns 1,927,599 shares of the company’s stock worth $9,233,000 after acquiring an additional 176,412 shares in the last quarter. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Todd A. Suko sold 45,947 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.72, for a total value of $492,551.84. Following the sale, the insider directly owned 560,563 shares of the company’s stock, valued at $6,009,235.36. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gopal Ajay Madan sold 31,381 shares of RealReal stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.72, for a total transaction of $336,404.32. Following the sale, the chief financial officer owned 1,124,711 shares of the company’s stock, valued at approximately $12,056,901.92. The trade was a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 235,298 shares of company stock valued at $2,522,395 in the last 90 days. 9.00% of the stock is owned by company insiders.

RealReal Stock Down 4.1%

NASDAQ:REAL opened at $9.56 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of -8.77 and a beta of 2.67. The business’s 50-day moving average price is $13.50 and its two-hundred day moving average price is $12.63. The RealReal, Inc. has a twelve month low of $4.61 and a twelve month high of $17.39.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. William Blair assumed coverage on RealReal in a research report on Monday, December 15th. They issued an “outperform” rating for the company. Wells Fargo & Company increased their price objective on RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of RealReal in a research note on Friday, February 27th. KeyCorp lifted their target price on RealReal from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Finally, UBS Group upped their price target on RealReal from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, RealReal currently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

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.