Divisadero Street Capital Management LP Purchases 2,254,300 Shares of The RealReal, Inc. $REAL

Divisadero Street Capital Management LP raised its position in The RealReal, Inc. (NASDAQ:REAL) by 652.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,599,801 shares of the company’s stock after purchasing an additional 2,254,300 shares during the quarter. RealReal accounts for about 1.2% of Divisadero Street Capital Management LP’s holdings, making the stock its 22nd biggest holding. Divisadero Street Capital Management LP owned about 2.23% of RealReal worth $27,636,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in RealReal in the 3rd quarter valued at approximately $59,000. EHP Funds Inc. acquired a new position in RealReal in the 3rd quarter valued at approximately $107,000. Alberta Investment Management Corp acquired a new position in RealReal in the 2nd quarter valued at approximately $115,000. Great Lakes Advisors LLC bought a new position in shares of RealReal during the third quarter valued at $121,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of RealReal during the third quarter valued at $127,000. 64.73% of the stock is owned by institutional investors and hedge funds.

RealReal Trading Down 4.1%

Shares of RealReal stock opened at $9.56 on Monday. The business has a 50-day moving average price of $13.50 and a two-hundred day moving average price of $12.66. The RealReal, Inc. has a 1-year low of $4.61 and a 1-year high of $17.39. The company has a market cap of $1.14 billion, a P/E ratio of -8.77 and a beta of 2.68.

Insider Activity at RealReal

In related news, insider Luke Thomas Friang sold 19,609 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.72, for a total transaction of $210,208.48. Following the completion of the sale, the insider owned 479,656 shares of the company’s stock, valued at $5,141,912.32. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Steve Ming Lo sold 16,962 shares of RealReal stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.72, for a total value of $181,832.64. Following the completion of the sale, the chief accounting officer owned 170,236 shares of the company’s stock, valued at approximately $1,824,929.92. The trade was a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 235,298 shares of company stock worth $2,522,395 over the last quarter. 9.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on REAL. B. Riley Financial boosted their price objective on shares of RealReal from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wall Street Zen raised RealReal from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RealReal in a report on Thursday, January 22nd. UBS Group upped their price target on RealReal from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, KeyCorp lifted their price objective on RealReal from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.06.

RealReal Company 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.