Rent the Runway, Inc. (NASDAQ:RENT) SVP Sells $11,649.04 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) SVP Zachary Benjamin Phillips sold 974 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $11.96, for a total transaction of $11,649.04. Following the completion of the transaction, the senior vice president now owns 17,994 shares of the company’s stock, valued at $215,208.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rent the Runway Stock Up 3.6 %

NASDAQ RENT traded up $0.38 during trading hours on Friday, hitting $10.98. 16,193 shares of the company were exchanged, compared to its average volume of 37,941. The stock has a market cap of $40.32 million, a PE ratio of -0.37 and a beta of 1.10. The stock has a 50-day moving average price of $17.66 and a 200 day moving average price of $14.45. Rent the Runway, Inc. has a 52 week low of $4.46 and a 52 week high of $41.81.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($6.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.56) by $0.53. The firm had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $73.20 million. As a group, sell-side analysts anticipate that Rent the Runway, Inc. will post -22.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of Rent the Runway during the second quarter valued at $33,000. Breed s Hill Capital LLC acquired a new stake in shares of Rent the Runway in the 4th quarter worth $53,000. Summit Securities Group LLC acquired a new stake in Rent the Runway in the second quarter worth about $86,000. CastleKnight Management LP grew its position in Rent the Runway by 304.9% during the 4th quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after purchasing an additional 411,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Rent the Runway in the 2nd quarter valued at $308,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

RENT has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. JMP Securities boosted their price objective on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.