Insider Selling: Rent the Runway, Inc. (NASDAQ:RENT) SVP Sells 907 Shares of Stock

Rent the Runway, Inc. (NASDAQ:RENT) SVP Becky Case sold 907 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.28, for a total transaction of $11,137.96. Following the sale, the senior vice president now directly owns 30,379 shares in the company, valued at $373,054.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rent the Runway Price Performance

Rent the Runway stock traded up $0.15 during midday trading on Monday, hitting $14.49. The company’s stock had a trading volume of 245,866 shares, compared to its average volume of 990,661. Rent the Runway, Inc. has a 1-year low of $4.46 and a 1-year high of $58.00. The company has a 50-day moving average price of $9.03 and a two-hundred day moving average price of $10.70. The company has a market cap of $53.18 million, a price-to-earnings ratio of -0.44 and a beta of 0.49.

Rent the Runway (NASDAQ:RENT) last issued its earnings results on Wednesday, April 10th. The company reported ($5.83) EPS for the quarter, missing the consensus estimate of ($5.80) by ($0.03). The firm had revenue of $75.80 million for the quarter, compared to the consensus estimate of $74.50 million. Sell-side analysts forecast that Rent the Runway, Inc. will post -20.2 EPS for the current year.

Institutional Investors Weigh In On Rent the Runway

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Rent the Runway by 119.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 55,250 shares of the company’s stock valued at $38,000 after purchasing an additional 30,050 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Rent the Runway during the 3rd quarter valued at approximately $46,000. Breed s Hill Capital LLC bought a new stake in shares of Rent the Runway during the 4th quarter valued at approximately $53,000. Landscape Capital Management L.L.C. bought a new stake in Rent the Runway during the 3rd quarter worth approximately $66,000. Finally, CastleKnight Management LP grew its holdings 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 acquiring an additional 411,000 shares during the last quarter. 73.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on RENT shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $12.00 price objective on shares of Rent the Runway in a research note on Tuesday, January 16th. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (down from $40.00) on shares of Rent the Runway in a research note on Wednesday, January 17th. The Goldman Sachs Group decreased their price target 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. Finally, JMP Securities decreased their price target on shares of Rent the Runway from $40.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Rent the Runway presently has a consensus rating of “Hold” and a consensus target price of $31.88.

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.