Kanen Wealth Management LLC Sells 962,518 Shares of The RealReal, Inc. (NASDAQ:REAL)

Kanen Wealth Management LLC reduced its stake in shares of The RealReal, Inc. (NASDAQ:REAL - Free Report) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,374,858 shares of the company's stock after selling 962,518 shares during the quarter. RealReal accounts for approximately 25.9% of Kanen Wealth Management LLC's portfolio, making the stock its largest holding. Kanen Wealth Management LLC owned 5.81% of RealReal worth $69,677,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in REAL. Anchorage Capital Advisors L.P. purchased a new stake in shares of RealReal in the 3rd quarter worth about $10,675,000. Woodson Capital Management LP lifted its holdings in shares of RealReal by 2.9% in the third quarter. Woodson Capital Management LP now owns 5,400,000 shares of the company's stock valued at $16,956,000 after purchasing an additional 150,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of RealReal by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,293,855 shares of the company's stock valued at $7,204,000 after purchasing an additional 44,716 shares during the last quarter. State Street Corp increased its stake in shares of RealReal by 22.3% during the 3rd quarter. State Street Corp now owns 1,701,387 shares of the company's stock worth $5,342,000 after purchasing an additional 310,116 shares in the last quarter. Finally, Capricorn Fund Managers Ltd raised its position in shares of RealReal by 40.4% during the 3rd quarter. Capricorn Fund Managers Ltd now owns 1,406,738 shares of the company's stock worth $4,417,000 after purchasing an additional 404,949 shares during the last quarter. 64.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Northland Securities lifted their price objective on RealReal from $6.50 to $12.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. UBS Group lifted their price target on shares of RealReal from $3.00 to $3.25 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised shares of RealReal from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $4.00 to $15.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.38.

Insider Activity

In other RealReal news, CAO Steve Ming Lo sold 96,666 shares of RealReal stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.10, for a total value of $589,662.60. Following the completion of the transaction, the chief accounting officer now owns 391,525 shares of the company's stock, valued at $2,388,302.50. The trade was a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John E. Koryl sold 396,478 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.61, for a total transaction of $3,810,153.58. The disclosure for this sale can be found here. Insiders own 9.78% of the company's stock.

RealReal Stock Performance

Shares of REAL stock traded up $0.07 on Monday, hitting $9.52. The stock had a trading volume of 4,039,943 shares, compared to its average volume of 3,351,171. The RealReal, Inc. has a 52-week low of $1.52 and a 52-week high of $11.38. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.82 and a beta of 2.87. The stock's 50 day moving average is $7.66 and its 200-day moving average is $4.68.

About RealReal

The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.