Insider Selling: Rent the Runway, Inc. (NASDAQ:RENT) Insider Sells 1,960 Shares of Stock

Rent the Runway, Inc. (NASDAQ:RENT) insider Sarah K. Tam sold 1,960 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.55, for a total value of $16,758.00. Following the transaction, the insider now directly owns 30,024 shares of the company’s stock, valued at approximately $256,705.20. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rent the Runway Price Performance

Shares of RENT stock opened at $8.30 on Friday. The company has a fifty day moving average price of $9.89 and a two-hundred day moving average price of $12.85. Rent the Runway, Inc. has a one year low of $4.46 and a one year high of $41.81. The stock has a market cap of $32.22 million, a P/E ratio of -0.37 and a beta of 1.18.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings results on Monday, December 9th. The company reported ($4.94) EPS for the quarter, missing analysts’ consensus estimates of ($4.45) by ($0.49). During the same period last year, the company posted ($8.86) earnings per share. As a group, equities research analysts anticipate that Rent the Runway, Inc. will post -18.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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. Jefferies Financial Group lowered their target price 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Rent the Runway has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Institutional Investors Weigh In On Rent the Runway

Several hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in shares of Rent the Runway during the 3rd quarter worth about $260,000. Nisa Investment Advisors LLC bought a new position in Rent the Runway in the 2nd quarter valued at about $308,000. Meeder Asset Management Inc. acquired a new stake in Rent the Runway during the second quarter worth approximately $33,000. Point72 DIFC Ltd bought a new stake in shares of Rent the Runway during the second quarter worth approximately $70,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Rent the Runway in the second quarter valued at approximately $131,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

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.