Siddharth Thacker Sells 1,946 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) CFO Siddharth Thacker sold 1,946 shares of Rent the Runway stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $10.00, for a total value of $19,460.00. Following the transaction, the chief financial officer now owns 50,249 shares in the company, valued at approximately $502,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Siddharth Thacker also recently made the following trade(s):

• On Monday, August 5th, Siddharth Thacker sold 533 shares of Rent the Runway stock. The shares were sold at an average price of $11.96, for a total value of $6,374.68.

Rent the Runway Price Performance

Shares of NASDAQ:RENT opened at $9.90 on Friday. Rent the Runway, Inc. has a 12-month low of $4.46 and a 12-month high of $41.81. The business has a 50-day moving average price of $13.15 and a 200 day moving average price of $14.82.

Rent the Runway (NASDAQ:RENT) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to analyst estimates of $76.60 million. During the same quarter in the prior year, the business earned ($8.00) earnings per share. Equities analysts predict that Rent the Runway, Inc. will post -19.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RENT. Jefferies Financial Group lowered their price target 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. JMP Securities boosted their target price on shares of 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.86.

Institutional Trading of Rent the Runway

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