Allspring Global Investments Holdings LLC Trims Stock Holdings in The RealReal, Inc. $REAL

Allspring Global Investments Holdings LLC decreased its position in shares of The RealReal, Inc. (NASDAQ:REAL) by 44.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,568 shares of the company’s stock after selling 190,056 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RealReal were worth $2,186,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new stake in RealReal during the third quarter worth $28,000. Larson Financial Group LLC acquired a new position in RealReal in the 3rd quarter valued at $31,000. Gables Capital Management Inc. purchased a new stake in RealReal during the 1st quarter valued at about $35,000. Flagship Harbor Advisors LLC acquired a new stake in RealReal in the 4th quarter valued at about $71,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of RealReal during the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

RealReal Stock Down 2.1%

NASDAQ:REAL opened at $11.13 on Friday. The RealReal, Inc. has a 52 week low of $5.00 and a 52 week high of $17.39. The company has a fifty day simple moving average of $10.71 and a two-hundred day simple moving average of $11.56. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.91 and a beta of 2.66.

RealReal (NASDAQ:REAL) last released its earnings results on Thursday, May 7th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $189.72 million for the quarter, compared to analyst estimates of $187.82 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, analysts expect that The RealReal, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

REAL has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of RealReal in a research note on Wednesday, June 3rd. Robert W. Baird set a $13.00 price target on shares of RealReal in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of RealReal in a report on Friday, July 17th. Roth Capital set a $17.00 price target on shares of RealReal in a research report on Friday, May 8th. Finally, Wall Street Zen cut RealReal from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Insider Buying and Selling

In other news, CEO Levesque Rati Sahi sold 81,194 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $9.25, for a total value of $751,044.50. Following the transaction, the chief executive officer owned 1,581,276 shares in the company, valued at approximately $14,626,803. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gopal Ajay Madan sold 35,023 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $9.25, for a total transaction of $323,962.75. Following the sale, the chief financial officer directly owned 1,145,278 shares in the company, valued at approximately $10,593,821.50. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 166,830 shares of company stock worth $1,543,178. Corporate insiders own 2.66% of the company’s stock.

RealReal Profile

The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.

At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.