Sarah K. Tam Sells 1,960 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) insider Sarah K. Tam sold 1,960 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 value of $16,758.00. Following the sale, the insider now directly owns 30,024 shares of the company’s stock, valued at $256,705.20. The trade was a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rent the Runway Stock Performance

NASDAQ:RENT opened at $8.29 on Friday. The firm has a market capitalization of $32.18 million, a price-to-earnings ratio of -0.37 and a beta of 1.18. Rent the Runway, Inc. has a 52-week low of $4.46 and a 52-week high of $41.81. The stock has a fifty day moving average of $9.93 and a 200 day moving average of $12.95.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings results on Monday, December 9th. The company reported ($4.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.45) by ($0.49). During the same quarter last year, the firm posted ($8.86) earnings per share. Equities analysts forecast that Rent the Runway, Inc. will post -18.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Rent the Runway

A number of hedge funds have recently added to or reduced their stakes in RENT. GSA Capital Partners LLP purchased a new stake in shares of Rent the Runway in the 3rd quarter worth $260,000. Point72 DIFC Ltd purchased a new stake in Rent the Runway in the 2nd quarter worth about $70,000. Cubist Systematic Strategies LLC purchased a new position in shares of Rent the Runway during the second quarter worth approximately $131,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rent the Runway during the second quarter worth approximately $72,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Rent the Runway during the second quarter valued at approximately $227,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.