Siddharth Thacker Sells 2,738 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 2,738 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.55, for a total transaction of $23,409.90. Following the sale, the chief financial officer now directly owns 46,781 shares in the company, valued at approximately $399,977.55. The trade was a 5.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction of $5,277.96.

Rent the Runway Price Performance

Shares of Rent the Runway stock opened at $8.29 on Friday. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $41.81. The firm’s 50-day moving average is $9.93 and its two-hundred day moving average is $12.95. The stock has a market cap of $32.18 million, a price-to-earnings ratio of -0.37 and a beta of 1.18.

Rent the Runway (NASDAQ:RENT) last issued its earnings results on Monday, December 9th. The company reported ($4.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.45) by ($0.49). During the same period in the prior year, the company posted ($8.86) EPS. On average, equities analysts expect that Rent the Runway, Inc. will post -18.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RENT. GSA Capital Partners LLP bought a new stake in shares of Rent the Runway in the 3rd quarter valued at about $260,000. Nisa Investment Advisors LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at about $308,000. XTX Topco Ltd bought a new stake in shares of Rent the Runway in the 2nd quarter valued at about $293,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at about $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at about $131,000. 73.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RENT has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Rent the Runway in a research note on Tuesday, December 10th. Jefferies Financial Group reduced their target price on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.