RealReal (NASDAQ:REAL) Trading 4.8% Higher - Here's Why

The RealReal, Inc. (NASDAQ:REAL - Get Free Report)'s share price rose 4.8% during trading on Thursday . The stock traded as high as $9.44 and last traded at $9.44. Approximately 435,070 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,313,195 shares. The stock had previously closed at $9.01.

Analysts Set New Price Targets

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

RealReal Stock Performance

The stock has a fifty day moving average price of $7.54 and a 200-day moving average price of $4.61. The firm has a market cap of $1.04 billion, a PE ratio of -10.82 and a beta of 2.87.

Insider Transactions at RealReal

In other news, CEO John E. Koryl sold 396,478 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $9.61, for a total value of $3,810,153.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Steve Ming Lo sold 96,666 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 391,525 shares of the company's stock, valued at approximately $2,388,302.50. This trade represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.78% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in RealReal during the 2nd quarter worth $915,000. Rhumbline Advisers grew its stake in shares of RealReal by 4,275.4% during the second quarter. Rhumbline Advisers now owns 125,267 shares of the company's stock valued at $400,000 after acquiring an additional 122,404 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of RealReal during the second quarter worth about $1,563,000. Evoke Wealth LLC acquired a new position in shares of RealReal in the second quarter worth about $36,000. Finally, The Manufacturers Life Insurance Company purchased a new position in RealReal in the second quarter valued at about $123,000. 64.73% of the stock is owned by institutional investors and hedge funds.

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.