Millennium Management LLC Trims Stake in The RealReal, Inc. (NASDAQ:REAL)

Millennium Management LLC reduced its position in The RealReal, Inc. (NASDAQ:REAL) by 33.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,018,507 shares of the company’s stock after selling 996,941 shares during the period. Millennium Management LLC owned 1.86% of RealReal worth $6,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Drive Wealth Management LLC acquired a new position in RealReal in the 2nd quarter valued at about $32,000. Calamos Advisors LLC acquired a new stake in shares of RealReal in the 2nd quarter worth approximately $34,000. Evoke Wealth LLC acquired a new stake in shares of RealReal in the 2nd quarter worth approximately $36,000. Crown Wealth Group LLC acquired a new stake in shares of RealReal in the 1st quarter worth approximately $39,000. Finally, Searle & CO. purchased a new stake in RealReal in the 1st quarter valued at approximately $39,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Steve Ming Lo sold 20,610 shares of RealReal stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $2.61, for a total transaction of $53,792.10. Following the sale, the chief accounting officer now owns 508,528 shares of the company’s stock, valued at approximately $1,327,258.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Karen Katz sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $2.62, for a total transaction of $86,460.00. Following the transaction, the director now owns 201,301 shares in the company, valued at $527,408.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steve Ming Lo sold 20,610 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $2.61, for a total transaction of $53,792.10. Following the transaction, the chief accounting officer now owns 508,528 shares in the company, valued at $1,327,258.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,863 shares of company stock valued at $477,394 over the last quarter. Insiders own 9.78% of the company’s stock.

RealReal Stock Performance

Shares of REAL stock opened at $3.31 on Friday. The RealReal, Inc. has a one year low of $1.26 and a one year high of $4.64. The company’s 50-day simple moving average is $2.82 and its 200-day simple moving average is $3.35. The stock has a market capitalization of $350.76 million, a price-to-earnings ratio of -2.90 and a beta of 2.79.

RealReal (NASDAQ:REAL) last issued its earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $144.93 million during the quarter, compared to the consensus estimate of $139.85 million. As a group, research analysts forecast that The RealReal, Inc. will post -0.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on REAL shares. Wedbush reduced their price target on RealReal from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird reduced their price target on RealReal from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Northland Capmk raised RealReal to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Northland Securities assumed coverage on RealReal in a report on Monday, September 16th. They set an “outperform” rating and a $6.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, RealReal currently has an average rating of “Moderate Buy” and a consensus target price of $4.40.

RealReal Company Profile

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.