New York State Common Retirement Fund Has $6.79 Million Position in The RealReal, Inc. $REAL

New York State Common Retirement Fund boosted its holdings in shares of The RealReal, Inc. (NASDAQ:REAL) by 2,998.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 638,288 shares of the company’s stock after acquiring an additional 617,688 shares during the period. New York State Common Retirement Fund owned 0.55% of RealReal worth $6,785,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of RealReal in the 3rd quarter worth $59,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in RealReal in the third quarter valued at about $127,000. Corton Capital Inc. acquired a new position in RealReal in the second quarter valued at about $111,000. KLP Kapitalforvaltning AS boosted its holdings in RealReal by 48.4% during the third quarter. KLP Kapitalforvaltning AS now owns 23,600 shares of the company’s stock worth $251,000 after buying an additional 7,700 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in RealReal during the second quarter worth about $115,000. Institutional investors own 64.73% of the company’s stock.

Insider Transactions at RealReal

In other news, CEO Levesque Rati Sahi sold 97,036 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $13.06, for a total transaction of $1,267,290.16. Following the completion of the transaction, the chief executive officer directly owned 1,604,178 shares of the company’s stock, valued at $20,950,564.68. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gopal Ajay Madan sold 30,196 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $13.06, for a total value of $394,359.76. Following the transaction, the chief financial officer owned 1,184,612 shares of the company’s stock, valued at approximately $15,471,032.72. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,823,249 shares of company stock worth $209,258,341. Company insiders own 9.00% of the company’s stock.

RealReal Stock Performance

Shares of REAL stock opened at $12.57 on Friday. The RealReal, Inc. has a 52 week low of $4.61 and a 52 week high of $17.39. The company’s 50 day moving average price is $15.36 and its two-hundred day moving average price is $11.72. The company has a market capitalization of $1.47 billion, a P/E ratio of -9.11 and a beta of 2.65.

RealReal (NASDAQ:REAL) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The firm had revenue of $173.57 million for the quarter, compared to the consensus estimate of $169.01 million. Analysts forecast that The RealReal, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REAL. William Blair started coverage on RealReal in a research note on Monday, December 15th. They issued an “outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of RealReal in a report on Thursday, January 22nd. Wells Fargo & Company upped their target price on shares of RealReal from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Roth Mkm set a $17.50 price target on shares of RealReal and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Northland Securities set a $20.00 price target on shares of RealReal in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.94.

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.