Insider Selling: Rent the Runway, Inc. (NASDAQ:RENT) CFO Sells 2,738 Shares of Stock

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 2,738 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.55, for a total transaction of $23,409.90. Following the completion of the transaction, the chief financial officer now directly owns 46,781 shares of the company’s stock, valued at $399,977.55. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Siddharth Thacker also recently made the following trade(s):

• On Wednesday, November 6th, Siddharth Thacker sold 543 shares of Rent the Runway stock. The shares were sold at an average price of $9.72, for a total transaction of $5,277.96.

Rent the Runway Trading Up 3.2 %

RENT opened at $8.29 on Friday. Rent the Runway, Inc. has a 12-month low of $4.46 and a 12-month high of $41.81. The firm has a market capitalization of $32.18 million, a PE ratio of -0.37 and a beta of 1.18. The firm has a 50 day moving average of $9.93 and a two-hundred day moving average of $12.95.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Monday, December 9th. The company reported ($4.94) EPS for the quarter, missing analysts’ consensus estimates of ($4.45) by ($0.49). During the same period last year, the business earned ($8.86) EPS. As a group, analysts predict that Rent the Runway, Inc. will post -18.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Rent the Runway

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Rent the Runway during the 3rd quarter worth approximately $260,000. Nisa Investment Advisors LLC acquired a new stake in shares of Rent the Runway during the 2nd quarter worth approximately $308,000. XTX Topco Ltd acquired a new stake in shares of Rent the Runway during the 2nd quarter worth approximately $293,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Rent the Runway during the 2nd quarter worth approximately $227,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Rent the Runway in the 2nd quarter valued at $131,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RENT shares. Jefferies Financial Group decreased their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Rent the Runway in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Rent the Runway Company Profile

Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.