Rent the Runway, Inc. (NASDAQ:RENT) Insider Sells $13,940.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) insider Sarah K. Tam sold 1,394 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $10.00, for a total value of $13,940.00. Following the completion of the sale, the insider now directly owns 32,315 shares in the company, valued at approximately $323,150. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rent the Runway Stock Performance

Shares of RENT stock opened at $8.41 on Friday. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $41.81. The firm has a market capitalization of $30.88 million, a PE ratio of -0.28 and a beta of 1.08. The stock has a fifty day moving average of $12.97 and a two-hundred day moving average of $14.78.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the prior year, the firm earned ($8.00) earnings per share. Equities research analysts predict that Rent the Runway, Inc. will post -19.08 earnings per share for the current fiscal year.

Institutional Trading of Rent the Runway

A number of institutional investors have recently made changes to their positions in the stock. CastleKnight Management LP increased its stake 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 valued at $288,000 after acquiring an additional 411,000 shares during the period. Nisa Investment Advisors LLC bought a new position in Rent the Runway during the 2nd quarter valued at $308,000. XTX Topco Ltd acquired a new position in shares of Rent the Runway during the 2nd quarter valued at $293,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Rent the Runway in the 2nd quarter worth $227,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Rent the Runway in the second quarter valued at $131,000. 73.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RENT. JMP Securities increased their target price on 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. Jefferies Financial Group dropped their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.86.

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.