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

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

Rent the Runway Stock Up 1.0 %

Shares of RENT opened at $14.49 on Tuesday. The business has a fifty day moving average of $9.03 and a 200 day moving average of $10.70. The company has a market cap of $53.18 million, a PE ratio of -0.44 and a beta of 0.49. Rent the Runway, Inc. has a 52-week low of $4.46 and a 52-week high of $58.00.

Rent the Runway (NASDAQ:RENT) last released its earnings results on Wednesday, April 10th. The company reported ($5.83) earnings per share (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 analysts’ expectations of $74.50 million. As a group, research analysts anticipate that Rent the Runway, Inc. will post -20.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RENT shares. Piper Sandler restated a “neutral” rating and set a $15.00 price objective (down previously from $40.00) on shares of Rent the Runway in a research report on Wednesday, January 17th. JMP Securities reduced their price objective on 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $12.00 price objective on shares of Rent the Runway in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group cut their target price on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating for the company in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.88.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RENT. Commonwealth Equity Services LLC raised its holdings in shares of Rent the Runway by 119.2% in the third quarter. Commonwealth Equity Services LLC now owns 55,250 shares of the company’s stock worth $38,000 after buying an additional 30,050 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Rent the Runway during the third quarter valued at $46,000. Landscape Capital Management L.L.C. bought a new position in shares of Rent the Runway in the third quarter worth about $66,000. Breed s Hill Capital LLC purchased a new position in Rent the Runway in the 4th quarter worth about $53,000. Finally, CastleKnight Management LP lifted 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 valued at $288,000 after buying an additional 411,000 shares in the last quarter. Hedge funds and other institutional investors 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.