Panagora Asset Management Inc. Buys 50,796 Shares of The RealReal, Inc. $REAL

Panagora Asset Management Inc. lifted its stake in The RealReal, Inc. (NASDAQ:REAL) by 15.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 378,320 shares of the company’s stock after buying an additional 50,796 shares during the period. Panagora Asset Management Inc.’s holdings in RealReal were worth $1,812,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in RealReal in the 1st quarter worth approximately $359,000. Mackenzie Financial Corp bought a new position in shares of RealReal in the first quarter worth approximately $332,000. Vanguard Group Inc. increased its stake in shares of RealReal by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,097,765 shares of the company’s stock worth $27,477,000 after buying an additional 192,633 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in RealReal by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 290,048 shares of the company’s stock valued at $1,563,000 after buying an additional 5,172 shares during the last quarter. Finally, Swiss National Bank bought a new stake in RealReal during the 1st quarter valued at $859,000. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on REAL shares. Wall Street Zen raised shares of RealReal from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. UBS Group raised their target price on RealReal from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RealReal in a research report on Wednesday, October 8th. Roth Capital set a $17.50 price objective on RealReal and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, KeyCorp raised RealReal from a “sector weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.63.

RealReal Price Performance

Shares of NASDAQ REAL opened at $14.21 on Friday. The RealReal, Inc. has a 1 year low of $4.61 and a 1 year high of $16.24. The firm has a 50-day moving average of $12.20 and a 200 day moving average of $8.53. The stock has a market cap of $1.66 billion, a P/E ratio of -10.30 and a beta of 2.68.

RealReal (NASDAQ:REAL) last announced its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.35). The business had revenue of $173.57 million for the quarter, compared to analyst estimates of $169.01 million. Research analysts expect that The RealReal, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at RealReal

In other RealReal news, Director Gilbert L. Baird III sold 7,686,442 shares of RealReal stock in a transaction on Monday, November 17th. The stock was sold at an average price of $13.21, for a total transaction of $101,537,898.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gopal Ajay Madan sold 30,196 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $13.06, for a total value of $394,359.76. Following the completion of the sale, the chief financial officer directly owned 1,184,612 shares in the company, valued at approximately $15,471,032.72. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,823,249 shares of company stock worth $209,258,341 over the last quarter. 9.00% of the stock is currently owned by company insiders.

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.