Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker Sells 1,946 Shares

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 1,946 shares of the company’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 sale, the chief financial officer now directly owns 50,249 shares in the company, valued at approximately $502,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Rent the Runway Stock Up 2.9 %

NASDAQ:RENT opened at $9.90 on Friday. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $41.81. The stock has a 50-day simple moving average of $13.15 and a 200-day simple moving average of $14.82.

Rent the Runway (NASDAQ:RENT) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69. The business had revenue of $78.90 million during the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the company earned ($8.00) earnings per share. On average, equities analysts expect that Rent the Runway, Inc. will post -19.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reduced their price target on Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. JMP Securities raised their target price on shares of Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.86.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RENT. CastleKnight Management LP increased its position in shares of Rent the Runway by 304.9% during the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after purchasing an additional 411,000 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Rent the Runway during the second quarter worth approximately $308,000. Summit Securities Group LLC acquired a new position in Rent the Runway during the second quarter worth approximately $86,000. Meeder Asset Management Inc. purchased a new stake in Rent the Runway in the second quarter valued at approximately $33,000. Finally, XTX Topco Ltd acquired a new stake in shares of Rent the Runway in the second quarter valued at approximately $293,000. Institutional investors and hedge funds 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.