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 firm’s stock in a transaction 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 sale, the chief financial officer now owns 46,781 shares in the company, valued at approximately $399,977.55. This represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $9.72, for a total transaction of $5,277.96.

Rent the Runway Stock Down 7.9 %

Shares of NASDAQ RENT opened at $8.03 on Thursday. Rent the Runway, Inc. has a 52-week low of $4.46 and a 52-week high of $41.81. The company’s 50-day simple moving average is $9.97 and its 200-day simple moving average is $12.98. The firm has a market cap of $31.17 million, a price-to-earnings ratio of -0.36 and a beta of 1.18.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Monday, December 9th. The company reported ($4.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.45) by ($0.49). During the same period in the prior year, the business posted ($8.86) earnings per share. Equities research analysts anticipate that Rent the Runway, Inc. will post -18.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RENT shares. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Rent the Runway in a research note on Tuesday, December 10th. Jefferies Financial Group cut their price objective on 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Institutional Inflows and Outflows

Several 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 during the third quarter worth $260,000. Point72 DIFC Ltd purchased a new stake in Rent the Runway during the 2nd quarter valued at about $70,000. Cubist Systematic Strategies LLC purchased a new position in Rent the Runway in the 2nd quarter worth approximately $131,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rent the Runway during the 2nd quarter worth approximately $72,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Rent the Runway in the second quarter valued at approximately $227,000. 73.10% of the stock is owned by institutional investors and hedge funds.

About Rent the Runway

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.