Raymond James Financial Inc. Buys New Stake in The RealReal, Inc. (NASDAQ:REAL)

Raymond James Financial Inc. bought a new position in shares of The RealReal, Inc. (NASDAQ:REAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 470,548 shares of the company’s stock, valued at approximately $5,143,000. Raymond James Financial Inc. owned about 0.43% of RealReal at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of REAL. Aigen Investment Management LP increased its stake in shares of RealReal by 513.5% in the fourth quarter. Aigen Investment Management LP now owns 93,550 shares of the company’s stock worth $1,023,000 after purchasing an additional 78,301 shares during the period. Jag Capital Management LLC bought a new position in RealReal in the 4th quarter worth approximately $126,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of RealReal by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,876 shares of the company’s stock worth $3,114,000 after buying an additional 9,453 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of RealReal in the fourth quarter valued at approximately $299,000. Finally, Bank of New York Mellon Corp grew its stake in shares of RealReal by 67.7% in the fourth quarter. Bank of New York Mellon Corp now owns 353,941 shares of the company’s stock worth $3,869,000 after acquiring an additional 142,861 shares during the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

RealReal Stock Down 7.1 %

NASDAQ:REAL opened at $6.28 on Wednesday. The firm has a market capitalization of $698.63 million, a PE ratio of -4.87 and a beta of 3.00. The RealReal, Inc. has a 12-month low of $2.24 and a 12-month high of $11.38. The firm has a 50-day moving average price of $7.55 and a 200 day moving average price of $6.14.

RealReal (NASDAQ:REAL) last issued its earnings results on Thursday, February 20th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.52). The firm had revenue of $164.00 million during the quarter, compared to analyst estimates of $162.69 million. On average, research analysts expect that The RealReal, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John E. Koryl sold 396,478 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Luke Thomas Friang sold 18,503 shares of RealReal stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $6.90, for a total value of $127,670.70. Following the completion of the transaction, the insider now owns 556,557 shares of the company’s stock, valued at approximately $3,840,243.30. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 654,761 shares of company stock worth $5,592,306 over the last three months. 9.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on REAL shares. UBS Group cut their target price on shares of RealReal from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company upgraded shares of RealReal from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $4.00 to $15.00 in a research note on Monday, December 9th. Finally, Northland Securities boosted their price target on RealReal from $6.50 to $12.50 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.33.

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.