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

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 2,738 shares of the stock in a transaction 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 sale, the chief financial officer now owns 46,781 shares of the company’s stock, valued at approximately $399,977.55. This represents a 5.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 Down 7.9 %

Shares of NASDAQ:RENT opened at $8.03 on Thursday. 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 $31.17 million, a price-to-earnings ratio of -0.36 and a beta of 1.18. The business has a 50-day moving average price of $9.97 and a 200-day moving average price of $12.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in Rent the Runway during the 2nd quarter worth about $33,000. Point72 DIFC Ltd purchased a new stake in shares of Rent the Runway in the second quarter worth about $70,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rent the Runway during the second quarter worth about $72,000. Summit Securities Group LLC purchased a new position in Rent the Runway during the second quarter valued at approximately $86,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Rent the Runway during the second quarter valued at approximately $131,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RENT has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Rent the Runway in a research note on Tuesday, December 10th. Jefferies Financial Group dropped 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 report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.20.

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.