Insider Selling: Rent the Runway, Inc. (NASDAQ:RENT) CFO Sells $23,409.90 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 2,738 shares of the company’s 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 $23,409.90. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 value of $5,277.96.

Rent the Runway Stock Up 0.1 %

RENT opened at $8.30 on Friday. Rent the Runway, Inc. has a 52 week low of $4.46 and a 52 week high of $41.81. The stock has a market cap of $32.22 million, a PE ratio of -0.37 and a beta of 1.18. The business has a 50 day moving average of $9.89 and a 200-day moving average of $12.85.

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

Institutional Investors Weigh In On Rent the Runway

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in shares of Rent the Runway during the second quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new position in Rent the Runway during the 2nd quarter valued at approximately $70,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rent the Runway during the second quarter valued at $72,000. Summit Securities Group LLC bought a new stake in Rent the Runway in the second quarter worth $86,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Rent the Runway in the second quarter worth $131,000. Institutional investors own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

RENT has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price target on Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Rent the Runway in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.