Jennifer Hyman Sells 6,127 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) CEO Jennifer Hyman sold 6,127 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $10.00, for a total transaction of $61,270.00. Following the completion of the transaction, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jennifer Hyman also recently made the following trade(s):

• On Monday, August 5th, Jennifer Hyman sold 4,544 shares of Rent the Runway stock. The shares were sold at an average price of $11.96, for a total value of $54,346.24.

Rent the Runway Price Performance

Shares of RENT opened at $9.90 on Friday. Rent the Runway, Inc. has a one year low of $4.46 and a one year high of $41.81. The business’s 50 day simple moving average is $13.15 and its 200-day simple moving average is $14.82.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.86) by $1.69. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the previous year, the firm posted ($8.00) EPS. On average, sell-side analysts predict that Rent the Runway, Inc. will post -19.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RENT has been the subject of several analyst reports. Jefferies Financial Group cut their target price on Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JMP Securities lifted their price objective on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Rent the Runway has an average rating of “Moderate Buy” and a consensus target price of $25.86.

Institutional Trading of Rent the Runway

A number of hedge funds and other institutional investors have recently modified their holdings of RENT. Meeder Asset Management Inc. acquired a new position in Rent the Runway during the 2nd quarter worth $33,000. Point72 DIFC Ltd bought a new stake in shares of Rent the Runway during the second quarter worth $70,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rent the Runway during the second quarter valued at $72,000. Summit Securities Group LLC acquired a new position in shares of Rent the Runway during the second quarter valued at $86,000. Finally, Cubist Systematic Strategies LLC bought a new position in Rent the Runway in the second quarter valued at about $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.