Rent the Runway, Inc. (NASDAQ:RENT) CFO Sells $19,460.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 1,946 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $10.00, for a total value of $19,460.00. Following the completion of the transaction, the chief financial officer now owns 50,249 shares of the company’s stock, valued at approximately $502,490. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, August 5th, Siddharth Thacker sold 533 shares of Rent the Runway stock. The stock was sold at an average price of $11.96, for a total value of $6,374.68.

Rent the Runway Stock Performance

RENT traded down $0.60 on Wednesday, hitting $9.62. 93,460 shares of the company were exchanged, compared to its average volume of 555,824. Rent the Runway, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $41.81. The firm has a market capitalization of $35.32 million, a P/E ratio of -0.32 and a beta of 1.08. The business’s fifty day moving average is $13.31 and its 200 day moving average is $14.85.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, topping analysts’ consensus estimates of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $76.60 million. During the same quarter in the prior year, the business posted ($8.00) EPS. Analysts forecast that Rent the Runway, Inc. will post -19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reduced 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 increased their price objective on shares of Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.86.

Institutional Trading of Rent the Runway

Institutional investors have recently modified their holdings of the company. CastleKnight Management LP raised its holdings in Rent the Runway by 304.9% in the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock valued at $288,000 after acquiring an additional 411,000 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Rent the Runway during the second quarter valued at $308,000. XTX Topco Ltd bought a new position in Rent the Runway during the 2nd quarter valued at $293,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Rent the Runway during the 2nd quarter valued at about $227,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Rent the Runway in the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.