Allspring Global Investments Holdings LLC Cuts Stake in The RealReal, Inc. $REAL

Allspring Global Investments Holdings LLC lessened its holdings in shares of The RealReal, Inc. (NASDAQ:REAL) by 44.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 235,568 shares of the company’s stock after selling 190,056 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of RealReal worth $2,186,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in REAL. Quarry LP bought a new stake in RealReal in the 3rd quarter valued at $28,000. Larson Financial Group LLC bought a new position in RealReal during the third quarter valued at approximately $31,000. Gables Capital Management Inc. bought a new stake in RealReal in the 1st quarter worth approximately $35,000. Flagship Harbor Advisors LLC bought a new stake in RealReal in the 4th quarter worth approximately $71,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of RealReal during the 4th quarter worth approximately $104,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

RealReal Stock Performance

Shares of NASDAQ REAL opened at $11.13 on Friday. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -10.91 and a beta of 2.66. The stock has a 50 day moving average price of $10.71 and a 200 day moving average price of $11.56. The RealReal, Inc. has a 52-week low of $5.00 and a 52-week high of $17.39.

RealReal (NASDAQ:REAL) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $189.72 million during the quarter, compared to the consensus estimate of $187.82 million. During the same period last year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Analysts forecast that The RealReal, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on REAL shares. Robert W. Baird set a $13.00 target price on RealReal in a research report on Friday, May 8th. Roth Capital set a $17.00 price target on shares of RealReal in a research note on Friday, May 8th. Wall Street Zen lowered shares of RealReal from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. UBS Group reissued a “buy” rating on shares of RealReal in a research note on Wednesday, June 3rd. Finally, BTIG Research restated a “buy” rating and issued a $17.00 target price on shares of RealReal in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Insider Transactions at RealReal

In other RealReal news, insider Luke Thomas Friang sold 21,183 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $9.25, for a total value of $195,942.75. Following the completion of the sale, the insider directly owned 530,676 shares in the company, valued at $4,908,753. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gopal Ajay Madan sold 35,023 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $9.25, for a total transaction of $323,962.75. Following the completion of the sale, the chief financial officer owned 1,145,278 shares of the company’s stock, valued at approximately $10,593,821.50. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 166,830 shares of company stock valued at $1,543,178 over the last three months. 2.66% of the stock is currently owned by corporate insiders.

RealReal 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.